Tesla CEO Elon Musk announced on Tuesday at the automaker’s 2023 annual shareholder meeting that there are two new electric vehicles in the pipeline. Musk even claimed that Tesla is already in the process of building a new product. The billionaire executive said, “I just want to emphasize that we are actually building a new product. We are actually designing a new product. We’re not sitting on our hands here.”
Musk did not reveal much about the new products in the pipeline, but he did say that the design and manufacturing techniques of these products are “head and shoulders above anything else that is present in the industry.” During his speech, a rendered image of a vehicle silhouette appeared on the screen behind him, giving the audience a sneak peek of one of the vehicles.
The $25,000 hatchback
It is possible that the vehicle silhouette that appeared on the screen during Musk’s speech might be the hatchback Tesla mentioned back in 2020 during the company’s battery day. The Tesla CEO clarified that this meeting was not the place to make a new product announcement, and that there would be a proper product launch eventually.
It is unclear what Musk meant by “building” the vehicle. However, it is likely that a prototype is being built, rather than a production volume vehicle.
Two new affordable models
Tesla teased two new models at its Investor Day in March, displaying a photo with Tesla’s entire lineup and two unveiled car outlines. One of the vehicles looked to be the size of a van, and the other the size of a sedan or hatchback. Both vehicles are expected to be more affordable and sell at much higher volumes.
“Elon’s guess is that we’ll probably make in excess of 5 million units per year of these two models combined,” said Musk.
Full self-driving and other announcements
During the shareholder meeting, Musk also announced that Tesla is getting close to achieving full self-driving. This is something Musk has claimed multiple times over the past several years.
Tesla also confirmed plans to build a gigafactory in Mexico, where production of the hatchback, commonly referred to as the “Model 2” by Tesla fans, is expected to be built. There has been speculation that the second vehicle Musk teased will be the robotaxi he has referred to in the past.
Tesla also announced that former CTO JB Straubel will return to the automaker’s board, and that the company aims to try some traditional advertising methods to promote new features.
Tesla CEO Elon Musk has teased two new electric vehicles that are in the pipeline and claimed that the design and manufacturing techniques of these products are “head and shoulders above anything else that is present in the industry.” While specifics about the new vehicles are scarce, Tesla fans are excited to see what the company has in store. Musk’s announcement comes on the heels of Tesla’s Investor Day in March, where the automaker teased two more affordable models. With all these exciting developments, it is clear that Tesla is continuing to innovate and push the boundaries of electric vehicles.