Rescinding its earlier promises to build a brand-new, $25,000 automobile,
Tesla has stated that it will launch a new range of inexpensive vehicles by 2025, according to NPR.
When Tesla revealed in its annual quarter reports that its profits had decreased by 55% from the previous year, rumors about the "new model" began to circulate.
Not only are profits declining, but a number of high-ranking Tesla employees are departing, including the head of investor relations.
Additionally, the electric vehicle firm revealed that 10% of its global workforce would be let go.
Musk and other officials defended the company's performance, citing instances like the arson attempt at Tesla's Berlin plant as well as larger issues facing the electric vehicle (EV) industry as reasons for the impact.
They did, however, emphasize that they will soon emerge from this period and take control of the EV markets.
These new vehicles, including more reasonably priced models, will make use of both current and next generation platform features,
Select Red Wings eliminated from playoff race despite comeback victory against CanadiensRed Wings eliminated from playoff race despite comeback victory against Canadiens