Tesla is preparing to launch a new electric car

Tesla The mass-market compact crossover is targeted to launch in 2025, and there is growing speculation that it could be the automaker’s highest-priced vehicle yet.

That follows the publication of a Reuters report on Wednesday that Tesla is informing suppliers about plans to launch its first new vehicle. cybertruck Last year, Tesla boss Elon Musk confirmed during a post-earnings call that the company expects to begin production of an all-new electric vehicle at its Texas facility in the second half of 2025.

The upcoming car is reportedly codenamed “Redwood” and sources told Reuters that Tesla will plan to build 10,000 cars per week. But the media outlet also noted that Tesla has been known to miss deadlines, particularly with its Cybertruck pickup truck introduced in 2019 but launching several before rolling off the production line late last year. Missed the target. Mass production of the Cybertruck is not expected to begin until 2025.

It is likely that the next vehicle will be priced competitively to help Tesla take on its fast-growing Chinese rival BYD, which overtook it as the world’s top EV maker in the last quarter of 2023. Musk has raised the price to $25,000 in the past. But given that its current cheapest vehicle, the Model 3, sells for $38,990, finding such an attractive price could be a challenge. Additionally, the starting price of the Cybertruck was $60,990, approximately $20,000 more than originally expected.

Musk has previously said Tesla also plans to build a futuristic-looking autonomous taxi, though it’s unclear when that will be revealed.

Tesla’s fourth-quarter earnings, reported Wednesday, were $25.2 billion, up 3% from the same period a year earlier.

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