WionDrive News Desk 
After shooting down the production of all-new Model 2, Tesla has announced its plans to introduce “new models” in the early 2025, relying on its existing platforms and production lines. This means the company is now abandoning its earlier objective to develop a USD 25,000 hybrid model.
While CEO Elon Musk maintained a tighter-lipped approach on specifics, he hinted that the freshly produced models will be launched ahead of the target period of the Model 2 and will also included more affordable variants.
The announcement of speedier check-ins of the new products boosted after-hours trading, emphasising a positive impact following the downturn that the electric vehicle was receiving from competition and sales shrink. Despite the automaker missing Wall Street’s mark in its Q1 report, investors were thrilled with imminence of innovative developments.
Musk had initially denied the reports of halting of Model 2 production but did not address the issue directly. He, however, talked about the new unidentified models, without saying how many, what type or providing their target prices.
The EV maker said that the new models will have some features that were adopted from existing models while some will be adopted from the next generation models with a twist. However, this could potentially bring lesser cost reduction compared to projections earlier. Hence, this would mean that the pricing of these models could be higher than USD 25,000 estimated for the Model 2 by the analysts.
Amidst the market volatility, Tesla emphasised on prudent manner of financial management to highlight its intention to keep capital expenditures under control. The company’s technology boss Lars Moravy depicted the coherence among the achievements, letting it be understood that the groundwork already laid yet essential to the former car continues to be a valuable base for the forthcoming ones.
