Posted 1/24/2024, 5:42:00 AM
Tesla Plans New $25,000 Electric Crossover by 2025 to Regain Sales Momentum
- Tesla told suppliers it plans to start production on a new affordable EV codenamed "Redwood" in mid-2025
- The model is described as a compact crossover and Tesla is targeting weekly production of 10,000 vehicles
- Tesla previously promised a $25,000 EV in 2020 but has delayed those plans
- Tesla lost its rank as top EV maker globally to China's BYD in Q4 2022
- The new affordable Tesla model aims to compete in the mass market after recent price cuts, especially in China where competition is fierce