A new electric car called “Redwood” is in the works for mid-2025. With a starting price of $25,000, it would be the most affordable EV on the market.
A source claims that the Elon Musk-owned firm made weekly output projections of 10,000 vehicles when manufacturing begins in June 2025 after sending request estimates to suppliers last year.
Sales of Tesla’s most affordable model, the $43,900 Model 3, fell 15% in 2018 compared to 2022, so this may be Musk’s way of trying to entice more customers.
The Cybertruck has been sluggish to get rolling and now starts at $60,990, which is 50% more than Musk predicted for 2019.
Given the prices of batteries and the usual problems in making excellent, affordable cars, it will be tricky to make a profit on the cheaper EVs.
Two individuals from Tesla have confirmed that two or more models will be part of the next-generation Tesla building design, which is called NV9X.
According to prior reports, Tesla is interested in constructing a plant in India to manufacture electric cars at a lower price point, and the company also intends to construct cheaper vehicles at its facility in Germany.
Following Tesla’s quarterly earnings announcement in January, word of Redwood spread. Investors have been pressuring Musk to manufacture smaller cars.
During the month of January, it was anticipated that deliveries would reach twenty-one percent for this year. This figure is far lower than Musk’s yearly target of fifty percent, which he established several years ago.
Musk said in May of last year that Tesla was working on two new products that, when available for purchase simultaneously, could potentially sell five million autos yearly.
During Tesla’s annual shareholder meeting, he bragged that the business’s product designs and manufacturing methods were more advanced than those of any other company in the industry.
