Tesla is reportedly planning to build a new model in 2025.
According to Reuters, the EV, codename “Redwood,” will be a compact crossover. Sources told the outlet, the firm plans to produce 10,000 units per week.
Back in May, Tesla founder Elon Musk confirmed that two new EV models are in the works. Other than a silhouette for one of the motors, he didn’t give any further information.
“I just want to emphasize that we are actually building a new product. We are actually designing a new product. We’re not sitting on our hands here,” he said during a shareholders meeting.
“Both the design of the products and the manufacturing techniques are head and shoulders above anything else that is present in the industry,” the billionaire businessman then boasted.
The new model will follow the sci-fi-inspired Cybertruck and the updated Model 3 compact sedan.
Tesla produced 1.846 million EVs and delivered 1.809 million in 2023. The delivery figures were up 38 percent from the previous year. However, it is just shy of the two million vehicles the firm wanted to sell last year.
The automobile company made 476,777 Model 3 and Model Y EVs last quarter and delivered 461,538. There were also 18,212 “other models” sold. By contrast, its biggest competition, BYD, sold 1.6 million fully electric cars and 1.4 million hybrids.
