On January 24, it was reported that Tesla is planning to produce new electric vehicles in mid-2025。

According to people familiar with the matter, Tesla has told suppliers that it hopes to start producing a new mass-market electric car code-named "Redwood" in mid-2025, and two of them describe the model as a "compact crossover."。

Tesla CEO Musk has long fueled fan and investor interest in affordable electric cars and self-driving robo-taxis.。These models, including a $25,000 entry-level car, will allow it to compete with cheaper gasoline cars and a growing number of affordable electric cars。These products are expected to be produced on next-generation, lower-cost electric vehicle platforms。

Musk initially promised to build a $25,000 car by 2020, but he later shelved the plan.。Tesla's cheapest product, the Model 3 sedan, currently starts at $38,990 in the U.S.。

The two sources said Tesla sent a "request for quotation" or invitation to tender for the "Redwood" model to suppliers last year and expects to produce 10,000 vehicles per week.。Production will start in June 2025.。

Musk said in 2022 that Tesla would build a dedicated self-driving taxi with a futuristic appearance by 2024 after several failures to achieve the goal of full self-driving capabilities.。

He and other Tesla executives laid out a plan last March to halve the cost of the next generation of vehicles, but did not provide a timetable for the release.。Musk said in May that Tesla was working on two new products with annual sales expected to reach 5 million vehicles.。He said at Tesla's annual shareholder meeting: "The design and manufacturing technology of products are far ahead of the industry.。"

However, Tesla has a "track record" of failing to meet its listing and pricing targets, such as Cybertruck.。CyberTruck debuted in 2019, but it didn't start delivery until the end of last year, and the price is 50% higher than in 2019。In addition, Cybertruck is currently facing the dilemma of slow production.。

"They are too optimistic about the launch of most new products.。Mass production is more likely to start in 2026, "one source said.。

The source also revealed that Tesla has dismantled a Honda Civic (priced at $23,950 in the United States) in recent years to study how to make a cheaper car。

Tesla to release quarterly results Wednesday afternoon local time。Wall Street forecasts Tesla Q4 EPS to fall 39%, revenue up 5% to 256.$200 million and full-year 2023 earnings will decline 25% to 3.05 dollars, sales of 974.$600 million, up 20% from 2022。

Looking ahead to 2024, Wall Street expects Tesla's 2024 earnings per share to rise from 3.81 dollars down to 3.64美元。This compares to 5 at the end of January 2023..65美元。

On Monday, Morgan Stanley analyst Adam Jonas cut Tesla's stock price target to $345 from $380, but maintained his overweight rating on the stock.。The long-time Tesla analyst wrote that he expects Tesla's 2024 sales and earnings outlook to be more modest when it reports its fourth-quarter results on Wednesday night。According to Jonas, "Global EV momentum is stagnating and the market is oversupplied.。"

In 2023, Tesla cut vehicle prices and offered discounts several times to preserve sales, squeezing Tesla's gross margins.。Tesla's gross margin peaked at 30% in Q4 2021 and has now fallen significantly below 20%。Wall Street now widely expects Tesla's gross margin to fall to 15 in the fourth quarter of 2023..7%。

Entering 2024, Tesla continues to cut prices。Earlier this month, Tesla lowered the price of Model 3 / Y in China, and in many European markets, Tesla also lowered the price of Model Y.。

Last week, Gary Black, managing partner of Future Fund, posted on X that due to Tesla's price cuts in January, he lowered the company's 2024 earnings forecast from 3 per share..$90 down to 3 per share.75美元。Black added that Tesla management "still doesn't see that cutting configurator prices and inventory discounts by the same amount is value-damaging."。"