Tesla has once again confirmed that it plans to introduce more affordable electric vehicle (EV) models in the first half of 2025. This confirmation was made during the company’s Q3 2024 earnings report.
For years, one of the primary criticisms of Tesla has been the relatively high cost of its vehicles compared to traditional gasoline-powered cars. Their vehicle prices, which in the US now start at US$42,490 before incentives, though competitive within the EV market, have left many prospective buyers waiting for the long-promised lower cost Tesla models.
Now, Tesla has reiterated its plans to address this by launching new, more affordable vehicles in early 2025.
In the Q3 earnings report, Tesla said that the new models would leverage aspects of both its current vehicle platforms and the next-generation platform. This approach will allow the company to manufacture these vehicles on the same production lines as its existing models, enabling greater efficiency and cost savings, and in turn allow them to offer these vehicles at a lower price point.
“Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be able to be produced on the same manufacturing lines as our current vehicle line-up,” Tesla wrote in its report.
While Tesla’s announcement of these more affordable models is good news for buyers waiting on the sidelines, the company has remained vague on specific details regarding the design, features, and pricing of the upcoming vehicles.
It is worth noting however that in their statement, Tesla used the phrases “new vehicles” and “more affordable models,” both of which are plurals, indicating there will be more than one new offering next year, whatever they may end up being.
