Tesla Teases Two New Products at Shareholder Meeting

During Tesla's recent annual shareholder meeting held in Texas, CEO Elon Musk provided a glimpse into the future of the electric vehicle (EV) brand, revealing that the company is working on two new products. While Musk didn't delve into specifics, he emphasised that both the design of, as well as the manufacturing techniques for these upcoming offerings would surpass industry standards.

Also Read: Tesla Cancels Production of Right-Hand Drive Model S and Model X

The event saw Musk displaying a teaser image of a new car on the screen behind him, generating excitement among attendees. Although he refrained from making a formal announcement, speculations suggest that the silhouette displayed could be related to the much-anticipated $25,000 hatchback Musk mentioned during Tesla's battery day in 2020. He clarified that the shareholders' meeting wasn't the appropriate venue for product revelations and assured a proper launch would occur in due course.

Also Read: Musk Says Tesla Is Ready To Sacrifice Profits For Higher Volume

It is likely that Tesla is currently in the prototyping stage of the vehicle. Previously, at Tesla's Investor Day in March, the company had teased two models through an image -- a van-sized vehicle and a sedan/hatchback-sized one. These models are expected to be more affordable and aimed at generating higher sales volumes.

Tesla is confident of exceeding sales of five million units annually with the addition of two new models to its line-up.

Elon Musk estimated that the combined production of these two models would exceed five million units annually, a testament to Tesla's ambitious plans for future growth. The automaker's expansion strategy also includes the construction of a new gigafactory in Mexico, which many believe will serve as the production site for the hatchback, commonly referred to as the “Model 2”.

There is speculation that the second teased vehicle could be the long-discussed robotaxi, as Musk touched upon the subject in response to an audience question regarding Tesla's rideshare plans. Musk stated that ridesharing would be irrelevant in a self-driving world, implying that the company is making progress toward achieving full self-driving capabilities.

In addition to the new products teased, Tesla announced JB Straubel's return to the company's board as the former CTO. The automaker also expressed its intention to explore traditional advertising methods to promote new features, suggesting a potential shift in Tesla's marketing strategy.

Aaryan Sonsurkar