Exclusive: Tesla Expects to Develop New Electric Vehicles in Mid-2025, According to Insiders

Tesla has informed suppliers that it intends to begin manufacturing a new mass-market electric car dubbed “Redwood” in mid-2025

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Exclusive: Tesla Expects to Develop New Electric Vehicles in Mid-2025, According to Insiders

Tesla has informed suppliers that it intends to begin manufacturing a new mass-market electric car dubbed “Redwood” in mid-2025

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Tesla CEO Elon Musk has long piqued fans’ and investors’ interest in affordable electric vehicles and self-driving robotaxis.

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BYD overtook Tesla as the world’s leading EV manufacturer in the fourth quarter of 2023.

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Musk had previously pledged to construct a $25,000 automobile in 2020, which he then abandoned and then revived.

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The Model 3 sedan, Tesla’s most affordable vehicle, presently starts at $38,990 in the United States.

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Last year, Musk expressed worry about the impact of high borrowing rates on customer demand for large-ticket products such as vehicles.

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