Tesla is moving forward with plans to introduce new, more affordable electric vehicle models by the first half of 2025, as outlined in its Q4 2024 Update Letter. The new models will use both next-generation and existing platforms, produced on the same production lines as current vehicles. This strategy aims to enhance vehicle volume growth in a cost-effective manner without heavily investing in new manufacturing lines, while also utilizing current capacities to achieve over 60% growth in production for 2024.
"Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025," Tesla wrote in its Q4 2024 Update Letter.
"This approach will result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex-efficient manner during uncertain times."
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