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Tesla ’s been undergoing some major changes , and now we have a sensation of why : The company says it is upending its product roadmap because of “ pressure ” on EV sales .
The Modern and accelerated plan now includes “ more affordable theoretical account ” that the company claims will be launched next yr . Or if Tesla CEO Elon Musk is to be believed — and that ’s a big bet considering his track record with timelines — perhaps as early as the closing of 2024 .
The shock announcement send the society ’s stock soaring more than 11 % in after - hours trading Tuesday . And the price did n’t decrease even as Musk and other Tesla executives refused to share further inside information on a call with investors .
This all come follow abombshell reportin early April from Reuters that claimed Tesla had abandoned its piece of work on a low-pitched - cost , next - generation elevator car . That next - gen car was meant to be build on the same EV weapons platform Tesla is developing for its supposed robotaxi vehicle . Tesla had said this next - gen railcar could fare as early as late 2025 .
While Musk flimsily claimed Reuters was “ lying , ” bothElectrekandBloomberg Newshave since cover that the developing of that particular EV has been delayed or deemphasized inside the company . Musk has since posted on societal medium site ten that Tesla will break the robotaxi August 8 .
Tesla provided the update in its less - than - stellarfirst - quarter earnings report , which showed lucre descend 55 % year - over - yr . The company say in the composition it had “ update [ its ] next vehicle line - up to accelerate the launching of new models ahead of our antecedently communicated start of production in the 2d half of 2025 . ” The slate of raw vehicles include “ more low-priced exemplar , ” the company said .
These new offering are not being gyrate out of whole fabric , though . Tesla says it will ramp up these fomite on live production lines and that they will “ utilise aspect of ” the next - propagation weapons platform it has been developing , “ as well as aspects of our current platform . ”
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Bloomberg News reported originally this workweek Tesla was process onnew versions of the Model Y and Model 3that borrowed engineering science and processes from the next - gen EV , with an emphasis on the Model Y.
Tesla investor will have to await to get word any more .
On a call with investors , Musk punted on the question of what Tesla ’s new merchandise roadmap actually involves . “ We ’ll talk about this on August 8th , ” he said , referring to the event Tesla has planned to reveal its robotaxi , which he called “ Cybercab . ”
When enquire a similar question by and by in the call , Musk read “ I conceive we ’ve said all we will on that front . ”
Tesla VP Lars Moravy said there was “ some risk ” associate with the new program , and that Tesla could leverage “ all the subsystem ” being develop for it , like powertrains , drive unit , as well as improvements in fabrication and automation , thermal systems , seating , ” and more . “ All that ’s transferrable , and that ’s what we ’re doing — taste to get it in Modern products as fast as potential , ” he said . “ That engine room work — we ’re not examine to just confuse it away and put it in a coffin . ”
Cost versus growth
Tesla has worked to dilute the cost of manufacturing the next - gen EV by 50 % compared to the platform that underpins the Model 3 and Model Y.
The party admitted Tuesday that by shift to a strategy of mixing the next - gen engineering science and cognitive process with live platforms and manufacture argument , it will suffer some of that cost rescue .
The upper side , according to Tesla , is ontogeny . The party take it can double 2023 ’s product ( which was around 1.8 million fomite ) by 2025 . And while it wo n’t save as much on the cost of the cars , it also wo n’t have to build up new product line to make these mysterious new vehicle . The company has already slowed work on a young factory in Mexico , where it originally planned to protrude building the next - generation EV and robotaxi .
Of course , Tesla had say for eld that it expect to contact 50 % annual growth , average over a few days , and has systematically pretermit that target . As the company admonish , it will grow at a “ notably low ” rate this class .
There are other challenges as well . Tesla is claiming it can set in motion this young product lineup after axing a huge telephone number of employee from its global manpower — though Musk said Tuesday the caller is “ not give up anything significant that I ’m cognisant of . ”
“ We ’ve just had a tenacious period of prosperity from 2019 to now , ” Musk said on the call . “ We ’ve made some correction along the way , but it is time to reorganize the company for the next phase of development . ”
