A new drone flyover shared on Saturday by the YouTube user ‘Met God in Wilderness‘ showed, for the first time, what seems to be Tesla‘s upcoming affordable model at the Fremont factory.
Last week, the company said in its quarterly shareholder deck that its “plans for new vehicles, including more affordable models, remain on track for the start of production in the first half of 2025.”
Last month, Reuters had reported that Tesla’s affordable model plans included a “stripped-down version of its best-selling electric SUV, the Model Y.”
The model, “internally codenamed E4,1,” was allegedly expected to be “smaller and cost 20% less to produce than the refreshed Model Y.”
During the earnings call, Tesla’s VP of Vehicle Engineering Lars Moravy stated that the model coming in the next months would resemble the company’s current lineup “in form and shape.”
“Models that come out in the next months will be built on our lines and will resemble, in form and shape, the cars we currently make. And the key is that they’ll be affordable, and you’ll be able to buy one,” Moravy stated.
During a recent drone flyover at the Fremont plant, several Tesla watchers noticed that the vehicle’s roof seemed to be slightly narrower than the Model Ys parked around it. Based on the video, at least, the vehicle seemed to be shaped like a crossover as well.
Production Plan
Last week, Reuters reported that “the production launch” for the new affordable model had been delayed and that the company “aimed to produce 250,000 of the cheaper Model Ys in the United States in 2026.”
By reiterating its launch timeline, Tesla indirectly denied the report. “Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025,” the company stated in its quarterly shareholder deck.
In the beginning, Tesla was planning to produce the refreshed model in a dedicated production line. However, the EV maker announced that it will be produced on the same manufacturing lines as its present vehicle lineup.
The company stated in the shareholder deck that new vehicles will utilize aspects of its next generation and its current platforms, which the company says will result in “less cost reduction than previously expected.”
Tesla expects the change will result in “less cost reduction than previously expected,” but will allow the company to prudently grow “vehicle volumes in a more capex-efficient manner during uncertain times.”
Tesla reported its first-quarter earnings on Tuesday, missing Wall Street consensus estimates for both earnings per share and revenue.
