However, the electric car manufacturer Tesla is not giving up on plans for a new, cheaper model, said the company’s head, Elon Musk, when announcing the financial results of the first quarter. For a long time there was speculation about the so-called Tesla Model 2, which would be cheaper than the current models, but in the last couple of months there were reports that the project has been put on hold.
Musk did not provide any more specific details, but he promised that more details will be provided on August 8. So we record this date. He also said that the launch of new models on the market is expected sooner than originally planned.
“These new cars, the more widely available models in it, will use parts from both our new and existing platforms. This means that we will be able to produce them on the same production lines that are used for current cars,” says Musk.
Tesla also confirmed that it will cut its workforce by more than 10%, which will save the company more than $1 billion. Musk calls it preparation for the “next phase of development.” Otherwise, the financial results of the 1st quarter are not as bright as expected and there is a noticeable decline when compared to last year. The Tesla chief also noted the trend of many automakers slowing down electrification plans, opting instead to stick with internal combustion engines and hybrids. Musk, of course, considers this a wrong strategy, but in the end, it is market demand that puts everything on the shelves.
