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Tesla plans to release a cheaper EV in 2025 amid sales decline and increased competition.
Tesla plans to launch a more affordable electric vehicle (EV) priced around £28,000 in the first half of 2025, aiming to compete with other budget EVs entering the market.
This move follows Tesla's recent sales decline and loss of the world's largest EV provider title to BYD.
Tesla also plans to cut production in the first quarter to prepare for the updated Model Y and launch its robotaxi business in Austin, Texas.
The company faces battery supply constraints but aims to boost annual production to three million cars.
3 months ago
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