Elon Musk confirms low-cost Tesla coming with target date set
- Elon Musk has confirmed a new Tesla model is in the works
- It will be a low-cost option
- And it’s hoped it will be here by the second half of 2025
Published on Jan 26, 2024 at 5:30 PM (UTC+4)
by Amelia Jean Hershman-Jones
Last updated on May 14, 2025 at 8:12 PM (UTC+4)
Edited by
Alessandro Renesis
Elon Musk has confirmed a new low-cost Tesla model is on the way – and it’ll be here by 2025.
“We’ll be sleeping on the line practically,” he said about what it will take to get it produced on time.
But he’s “optimistic” that they can make the deadline.
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And Tesla’s stock is only going up – as is that of the world’s soon-to-be first trillionaire.
A financial expert recently revealed how much $1,000 invested in Tesla stock today may be worth in 2027.
Per Musk, the “next-generation low-cost” Tesla EV will arrive by the second half of next year.
“Our current schedule shows that we will start production towards the end of 2025, sometime in the second half,” he said.
In an earnings call earlier this month, he promised “a revolutionary manufacturing system” for the vehicle.
He promised that this system is far more advanced than any others in the world by a “significant margin.”
Per Reuters, the new vehicle will be a small crossover codenamed “Redwood.”
Requests were reportedly sent out to suppliers for quotes from Tesla.
They have made a seemingly optimistic forecast that they can make 10,000 units per week.
This news follows comments from Musk that Tesla were working on two new EV models.
He hopes the two EVs combined could sell up to five million per year, with production starting slowly before ramping up.
The vehicle will be built in Tesla’s Austin, Texas Gigafactory to start with.
Production of the new EV would spread to other locations at a later date.
Musk boasted that Tesla’s new manufacturing technique alllows “record numbers” of cars to be made.
So far Musk has been uncharacteristically on the money when it comes to his predictions.
In an explosive interview with the New York Times a few weeks ago, he said the Model Y would be the best-selling car of 2023.
And he was right.
He also shared why: “You have to copy the machine that makes the machine that makes the machine… manufacturing inception.”
Musk also admitted that his optimistic production forecast “should be taken with a grain of salt”.
“I’m often optimist… regarding time,” he admitted.
If the history of the Model 3 shows anything, the next-gen model may arrive on time at a higher price.
But it may take some time for the price to come down.
And the Tesla Model 3 was spotted weathering a literal storm earlier this month, plowing through flooded waters while other vehicles were left stranded.
Some of the images used for this article were created using AI
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All Supercar Blondie contributors undergo editorial review and fact-checking to ensure accuracy and authority in automotive journalism. After gaining her BA Hons in French and English at the University of Nottingham, Amelia embarked on a vocational diploma from the National Council for the Training of Journalists (NCTJ). This led to numerous opportunities, from interning at Vogue to being on the small team that launched Women’s Health magazine in the UK, which was named the PPA Consumer magazine of the year for three years running. As Health, Beauty and Fitness editor, Amelia personally received a Johnson & Johnson Award and was shortlisted for both PPA and BSME titles. Since then, Amelia has created content for numerous titles and brands, including the Telegraph, 111 Skin, Waitrose, Red magazine, Stylist, and Elle, as well as being Head of Content at Vitality and Editor in Chief at INLondon magazine. “My superpower is translating technical jargon about the mechanical workings of a supercar into a relatable story you’ll want to share with your friends after you’ve read it.” After joining the SB Media family as a senior journalist in September of 2023, Amelia’s role has evolved to see her heading up the SEO output of the editorial team. From researching the most ‘Google-able’ key terms to producing evergreen content - it’s been a time of hard work, growth, and success for the editorial team and the Supercar Blondie website. “I like to think of myself as a ‘method journalist’. In other words: I live and breathe whatever I am writing about. When writing about fitness, I trained as a personal trainer, and as a beauty editor, I completed an ‘expert’ in scent diploma with the Fragrance Foundation. “During my tenure at Supercar Blondie, however, I did something I never thought possible: I passed my driving test at the age of 36. One day I’d love to train as a mechanic to better understand what happens under the hood, too. “My sweet spot is providing readers with a ‘takeaway’ (read: something new they didn’t know before) after reading every one of my stories. While I don’t claim to be an expert in the automotive world, I know the experts and bodies in the field to rely on to provide our readers with an informative and thought-provoking story every time they visit the site.”
