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Elon Musk confirmed next-gen $25,000 vehicle production has moved from Giga Mexico to Giga Texas. Musk added Tesla is close to starting production of this car and teased “technology far in advance of anything in the automotive world.”
Tesla's upcoming low-cost model, tipped to cost around USD 25,000 (RM117k), is in "advanced" development and will "blow people's minds," said Elon Musk.
Tesla is at the trough of its product cycle and badly needs investors to believe respite is right around the corner.
The outspoken CEO boasted that “The revolution in manufacturing that will be represented by that car will blow people’s minds.”
In a new interview, Elon Musk has admitted that the Cybertruck production ramp will go slower than otherwise hoped. Musk said, “Cybertruck will not be material to Tesla’s financials in 2024.” Musk pushed Cybertruck volume production to 2025.