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Follow | Model 2 is coming? Tesla plans to launch a budget model in the first half of 2025

Text: Understand the original Chedi Xing Qiuhong

Recently, according to Tesla's internal employees, Tesla is planning to launch a more economical electric vehicle in the first half of 2025. This move marks an important step forward in expanding Tesla's product line and market coverage.

Follow | Model 2 is coming? Tesla plans to launch a budget model in the first half of 2025

This news was also confirmed during Tesla's Q2 2024 earnings call. The model, internally codenamed "Redwood", is positioned lower than the Model 3, and the price will be lower or $25,000, or about 182,000 yuan. The car is positioned as a new entry-level model and is expected to start production at the Shanghai plant.

It is reported that the new model will use the new platform and the existing platform, and the production capacity will be less than previously anticipated, but it will also help to make full use of the existing production capacity.

Follow | Model 2 is coming? Tesla plans to launch a budget model in the first half of 2025

According to the data, Tesla's revenue in the second quarter was 25.5 billion US dollars (about 185.5 billion yuan), a year-on-year increase of 2%, exceeding market expectations and achieving record quarterly revenue; Net profit was US$1.494 billion (about 10.9 billion yuan), a significant decrease from the net profit of US$2.614 billion (about 19 billion yuan) in the same period last year.

In terms of delivery data, Tesla's total car deliveries in the second quarter were 443956, although it increased from 386,810 in the first quarter, it decreased by 5% year-on-year, which is also the first time that Tesla's sales have declined for two consecutive quarters.

Follow | Model 2 is coming? Tesla plans to launch a budget model in the first half of 2025

Tesla said that the company's car sales growth rate in 2024 may be significantly lower than the growth rate in 2023, as the company's team is working to launch the next generation of vehicles and other products.

In this way, Tesla will launch a new entry-level model in 2025, and the current Model Y will be upgraded. Do you think these two models can help Tesla boost sales?