Tesla CEO Elon Musk teased two new electric vehicles on Tuesday at the automaker’s 2023 annual meeting of shareholders. The billionaire executive even claimed that Tesla is already in the process of building a new product.
“I just want to emphasize that we are actually building a new product,” Musk said. “We are actually designing a new product. We are not sitting on our hands here.”
Musk went on to say that there are two new products in the pipeline and that “both the design of the products and the manufacturing techniques are far above anything else in the industry.”
As the CEO spoke, a rendered image of a vehicle’s silhouette appeared on the screen behind him, giving the audience a sneak peek at one of the vehicles. That vehicle may be the $25,000 hatchback that Musk mentioned in 2020 during the company battery day. He said that this meeting was not the place to make a new product announcement, and that eventually there would be a proper product launch.
Musk was not clear on stage what he meant by “building” the vehicle. It is likely that a prototype is being built, rather than a volume production vehicle.
Screenshot of the Tesla Investor Day 2023 presentation showing two new vehicles. Image credit: Tesla/Screenshot
Tesla previously teased two new models in its Investor Day in March, which shows a photo with Tesla’s full lineup and two car schematics featured. One of the vehicles appeared to be the size of a pickup truck and the other the size of a sedan or hatchback. Both are expected to be more affordable vehicles that sell in much higher volumes.
“Elon’s guess is that we’ll probably make more than 5 million units per year of these two models combined,” Musk said.
During Investor Day, Tesla also confirmed plans to build a gigafactory in Mexico, which is where many have speculated production hatchback, commonly known as the “Model 2” by Tesla fans, will be built.
There has been some speculation that the second vehicle Musk showed off will be the robotaxi he owns. mentioned in the past. An audience member asked Musk for an update on Tesla’s ride-sharing, and Musk replied that ride-sharing is “really not going to be relevant in the world of autonomous driving.”
The executive went on to say that Tesla is getting closer to achieving complete self-drivingsomething Musk has claimed several times in recent years.
During the shareholders’ meeting, Tesla also announced that former CTO JB Straubel to return to automaker’s board and that the company intends to test some traditional advertising methods to promote new features.
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