On Tuesday, during Tesla’s 2023 annual shareholder meeting, CEO Elon Musk announced two upcoming all-electric vehicles. The billionaire CEO went so far as to say that Tesla is now working on a new product.
Just to be clear, we are in fact developing a brand new product, Musk emphasized. We are, in fact, developing a brand-new item. We’re not just going to wait around.”
Musk continued by saying that two upcoming items “are head and shoulders above anything that is present in the industry” in terms of design and production techniques.
In order to give the audience a sneak peek at one of the vehicles, the CEO had a rendered image of a vehicle silhouette appear on the screen behind him as he spoke. Musk suggested a $25,000 hatchback in 2020 during the company’s battery day, so it’s probable that this is the car he was referring to. He explained that a genuine product launch would take place at a later date and that this meeting was not the appropriate venue for such an announcement.
Musk’s on-stage definition of ‘building’ the car was unclear. It’s more likely that this is a prototype than a mass-produced car.
Tesla showed a photo of two future models
At its Investor Day in March, Tesla hinted at two next models by exhibiting a snapshot of the company’s current portfolio alongside the silhouettes of two previously undisclosed vehicles. It appeared that one car was around the size of a minivan, while the other could have been a sedan or hatchback. Both are predicted to sell in greater numbers and at lower prices.
Musk has predicted that production of these two models will exceed 5 million units annually.
During Investor Day, Tesla also revealed plans to build a gigafactory in Mexico, where it is widely expected that the company’s rumored hatchback (or “Model 2”) will be manufactured.
Some have speculated that the second vehicle Musk hinted at is his previously mentioned robotaxi. After a member of the audience inquired about the status of ridesharing using Teslas, Musk stated that such services “will not really be relevant in the self-driving world.”
Musk has repeatedly made the assertion that Tesla is close to fully accomplishing self-driving over the previous few years; the executive echoed those claims.
Tesla also stated during the shareholder meeting that former CTO JB Straubel will rejoin the automaker’s board and that the business plans to experiment with certain traditional advertising strategies to promote new features.
It picks up speed rapidly. Rapid acceleration is a hallmark of electric vehicles, and Tesla is no exception. The company’s Model S, for instance, needs only 1.99 seconds to accelerate from 0 to 60 mph. It takes the Model X SUV 3.8 seconds, or 2.5 seconds with the plaid mode activated.
Over 405,000 Teslas were delivered in the fourth quarter of 2022, and the company produced over 439,000 vehicles in that same period. According to its most recent annual report, the company delivered 1.31 million units in 2022 while producing 1.37 million.