Tesla's new budget-friendly electric car is expected to launch in the first half of 2025, likely as a stripped-down version of the Model Y rather than an entirely new model. This development was confirmed during Tesla's Q1 earnings call.

Based on Tesla's Chief Financial Officer Dev Ateneja's comments, the company is focusing on affordability while utilizing existing production lines, suggesting modifications to current models rather than creating new ones.

Expected specifications and features:

• Estimated starting price: £25,000
• Smaller 55kWh battery pack (vs current 75kWh)
• Projected range: approximately 280 miles
• Basic interior features including:
  • Fabric seats without ventilation
  • Manual frunk operation
  • Non-powered tailgate
  • Reduced speaker system
  • Single-color ambient lighting

This development comes after various speculations and changes in Tesla's strategy. While earlier reports suggested the affordable EV project might be canceled in favor of the self-driving Cybercab, Tesla has confirmed its commitment to launching more affordable models.

While Elon Musk previously questioned the relevance of a $25,000 model in an autonomous world, Tesla's recent earnings report confirms that plans for more affordable vehicles remain on track for production start in early 2025. However, given Tesla's history with timeline estimates, actual release dates may vary.

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