Xiaomi Unveils Xring O3 Chip for Flagship Foldable Phone 
New Zealand Labour Backs Social Media Ban for Under-16s 
SK Hynix Shares Fall as Workers Reject Wage Deal 
U.S. Probes Apex Logistics Over Nvidia AI Chip Shipments to China 
OpenAI AI Agent Swarm Behind Hugging Face Hack 
Jefferies Names AMEC Top China Semiconductor Equipment Pick 
Nvidia Eyes Perplexity Investment at $30 Billion Valuation 
Meta, U.S. States Discuss Settlement in Teen Addiction Trial 
Trump Administration Plans New Drug Pricing Deals With Biotech Firms 
Honda, Nissan Eye Shared Vehicle Software Platform by 2029 
Itochu Offers $1.56 Billion to Privatize Dentsu Soken 
Nvidia Reportedly Eyes $13 Billion Hugging Face Acquisition 
Salesforce Shares Surge as AI Demand Powers Q2 Earnings Beat 
BofA Names ASML Top Semiconductor Equipment Pick on Growth, Valuation 
Luxshare Shares Rise as First-Half Profit Jumps 18% 
Add as a preferred source on Google
Tesla reiterated plans to launch its affordable vehicle models in the first half of 2025, but the company provided no new insights, leaving fans and investors eager for more concrete updates on the highly anticipated lineup.
Tesla Confirms 2025 Launch for Affordable Models
Today, Tesla reiterated that production and launch of "more affordable models" are still planned for the first half of next year, but the company did not provide any other information regarding when we might anticipate further updates.
For a while now, Tesla has been dropping hints that they will be releasing more reasonably priced models. Even if the Tesla Model 3 isn't too pricey, a lot of people were hoping for the $25,000 "Model 2" that was promised, Electrek shares.
Tesla's Plan for More Affordable Models: What We Know So Far
According to rumors, Tesla was planning to use a groundbreaking "unboxed" manufacturing technique to reduce production costs for their next vehicle.
Nevertheless, as reported by Reuters and later contradicted by Musk, Tesla CEO Elon Musk shifted the company's attention earlier this year to its much-anticipated Robotaxi product and shelved plans for a $25,000 vehicle. It turned out that Reuters was right after all.
After that, though, Tesla kept saying it was working on "more affordable models," but provided no further information.
Tesla's Earnings Report Confirms Affordable Models, But Lacks New Details
To restate earlier guidance, Tesla still intends to release a cheaper model in the next several months, although it will not be as groundbreaking as initially anticipated, according to today's earnings report:
"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.
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. This should help us fully utilize our current expected maximum capacity of close to three million vehicles, enabling more than 50% growth over 2023 production before investing in new manufacturing lines.
Our purpose-built Robotaxi product will continue to pursue a revolutionary “unboxed” manufacturing strategy."
No New Information in Latest Earnings Report
If you skip forward three months, you'll see that this section is identical to what was in Tesla's Q2 earnings.
The "Next Gen Platform" is still "In development," according to Tesla, and it will be manufactured in different parts of the world, as stated elsewhere in the report. California, Texas, Shanghai, and Berlin are the present locations of Tesla's vehicle manufacturing facilities.
