Elon Musk Drops Hints on Two New EVs

Tesla’s CEO, Elon Musk, sparked intrigue during the company’s annual shareholder’s meeting of 2023, dropping hints about two upcoming electric vehicles (EVs) and confirming that one of them is already under construction.

Musk stressed, “I want to underscore that we’re not just ideating, but we’re bringing a new product to life. We’re in the design phase, and even more, we’re building.”

Without unveiling specifics, Musk spoke about two new products in Tesla’s pipeline. He confidently stated that both the design and manufacturing methods surpass anything currently seen in the industry.

A suggestive silhouette of a potential new vehicle flashed on the screen during Musk’s talk, giving attendees a sneak peek into the upcoming Tesla lineup. There’s speculation that the vehicle could be the economical $25,000 hatchback that Musk hinted at during the 2020 company’s battery day. Musk made it clear, however, that this meeting was not the venue for an official product launch, assuring that a proper launch event will be held in due course.

The nature of the term “building,” as used by Musk, was not explicitly clarified. However, it is reasonable to assume that it implies the development of a prototype, rather than a mass production vehicle.

In the recent Tesla Investor Day held in March, two new models were subtly hinted at with the help of a picture showcasing Tesla’s full lineup, accompanied by two undisclosed vehicle outlines. One seemed to be the size of a van, while the other resembled a sedan or a hatchback. Both vehicles are projected to be affordable, targeting higher sales volumes.

Musk anticipates production of these two new models to reach over 5 million units per year combined.

Tesla also confirmed its plans to establish a gigafactory in Mexico during the Investor Day. This news has stirred speculations that the factory may be the production site for the anticipated “Model 2” hatchback, a popular term among Tesla enthusiasts.

The second vehicle teased by Musk has sparked various rumors, with some speculating that it could be the much-anticipated robotaxi Musk has mentioned before. When asked for an update on Tesla’s participation in ride-sharing, Musk stated that ride-sharing “will not really be relevant in the self-driving world.”

Musk reiterated Tesla’s proximity to achieving full self-driving, a claim he’s made on several occasions in the past few years.

During the shareholder meeting, Tesla also announced the return of former CTO JB Straubel to the company’s board and plans to experiment with traditional advertising methods to promote new features.

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Jennifer Wilkens

Jennifer has a degree in communications from Utah Valley University and enjoys writing business and financial news articles. She loves snowboarding and spending time with her two kids.

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