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Tesla reiterates plan to launch ‘more affordable’ EVs in early 2025

The company’s net income rose 17 percent in the third quarter of 2024.

On the heels of its highly anticipated but ultimately disappointing robotaxi event, Tesla published its third quarter earnings report, in which it said it would launch a “more affordable” electric vehicle in the first half of 2025. Rampant price cutting and cooling demand as well as cheaper financing have pushed the company’s once-vaunted margins to their lowest point in six years. The company’s vehicles are still selling strong in China, but Tesla is still facing fierce competition from BYD and others in the world’s largest EV market.

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