Tesla to launch more affordable electric vehicles in 2025

Tesla announced plans to introduce more affordable electric vehicles, with production expected to begin in the first half of 2025.

The company’s third-quarter earnings report highlighted preparations for new models, with the cost of goods sold per vehicle reaching its lowest point at $35,100. Tesla's cheapest car currently starts at $42,490, but the company aims to bring down prices with the next generation of vehicles.

Despite challenges like Cybertruck recalls and a federal investigation, Tesla posted a strong third quarter, with net income rising 8% to $2.51 billion.