01/24/2024

Tesla Plans To Build New Electric Vehicles in Mid-2025

They are describing it as a compact crossover

Tesla opens new tab has told suppliers it wants to start production of a new mass market electric vehicle codenamed "Redwood" in mid-2025, according to four people familiar with the matter, with two of them describing the model as a compact crossover.

Tesla CEO Elon Musk has long whetted fans' and investors' appetites for affordable electric vehicles and self-driving robotaxis that are expected to be made on next-generation, cheaper electric car platforms.

Those models, including an entry-level $25,000 car, would allow it to compete with cheaper gasoline-powered cars and a growing number of inexpensive EVs, such as those made by China's BYD, opens new tab.

Please select this link to read the complete article from Reuters.