In a recent episode of the podcast Ride The Lightning, Lars Moravy, Vice President of Automotive Engineering at Tesla, shared that the company intends to introduce updated versions of the Model S and Model X later this year. Moreover, he hinted at the imminent debut of a more budget-friendly model, potentially named Model 2 or Project Redwood, within the next few months. According to reports, the Model 2 will feature a 54 kWh battery pack, enabling a driving range of 402 kilometers. It will also boast a larger body and more spacious rear seats, all while adhering to Tesla's hallmark high-quality standards. To further enhance affordability, Tesla is concurrently developing a specialized painting process tailored for the Cybercab, with the goal of streamlining both production and repair procedures.