According to the report, the cheapest Tesla model to date will begin production in 2025.

Tesla, the world’s leading electric vehicle manufacturer, is expected to launch a low-cost electric SUV in mid-2025.

According to information from four sources cited by Reuters, the model codenamed ‘Redwood’ is being prepared for production from June 2025.

At least two of these sources describe the ‘Redwood’ as a ‘compact crossover’, however, it is unclear whether it is the low-cost electric car announced by Elon Musk CEO of Tesla first time in 2020 or not.

Tesla has sent requests for quotes to suppliers to participate in the Redwood project, and if the plan goes through, it is expected that about 520,000 electric vehicles will be produced annually. While the exact production location is still unknown, previous rumors suggested that the car would be produced at Tesla’s ‘Gigafactory’ in Texas.

With growing competition from Chinese rivals and rising interest rate pressure globally, Elon Musk is pushing to introduce more affordable electric vehicles.

Despite facing challenges, Tesla maintains its position in the market, with the Model 3 and Model Y accounting for more than half of new electric vehicle sales in Australia in 2023.

It is not yet known where the electric SUV will be produced, although previous reports suggested that the $25,000 electric vehicle will first enter production at Tesla’s ‘Gigafactory’ in Texas.

Musk’s push for Tesla to launch more affordable electric vehicles comes amid growing competition from Chinese rivals, as well as rising interest rates globally.

This is an important step in Tesla’s expansion strategy and will increase the diversity of its product line. The wait for Tesla’s low-cost electric SUV is growing, and it could be a formidable competitor in the global electric vehicle market.

According to CarExpert

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