Tesla has told its suppliers that it wants to begin production of a new full-scale electric vehicle codenamed Redwood in mid-2025, according to four people familiar with the matter. Reuters. It will likely be a compact crossover.
Elon Musk, CEO of Tesla It has long whetted the appetites of fans and investors Towards affordable electric cars and self-driving robotaxis, which are expected to be built on the platforms of the next generation of cheaper electric cars. It's an unstated goal for their cars to compete with their cheap gasoline-powered electric counterparts made by BYD.
In the last quarter of 2023, BYD overtook Tesla to become the world's leading electric vehicle manufacturer. The company announced last December that it would build its first European factory in the city of Szeged. BYD, which employs nearly 630,000 people, will not produce batteries, but electric cars in Hungary.
Elon Musk promised to launch an electric car worth $25,000 (about 9 million Hungarian forints) by 2020, but nothing has materialized. Its cheapest offering currently is the Model 3, which is priced at around $39,000 (13 million forints) in the United States.
According to Reuters sources, Tesla made a presentation to its suppliers for the Redwood model last year, expecting to produce 10,000 vehicles per week. Production is scheduled to begin in June 2025.
The sources requested anonymity due to the confidential nature of the case, and Tesla did not respond to Reuters inquiries.