During the Q1 2025 earnings call, Lars Moravy, Tesla's Vice President of Vehicle Engineering, disclosed that the electric carmaker intends to introduce an affordable model in 2025. This new addition to the lineup will maintain the design ethos of Tesla's existing models while sporting a more wallet-friendly price tag. Tesla has previously shared that its average vehicle manufacturing cost has dipped below $35,000, and the company aims to launch this budget-conscious model in the first half of the year with an estimated price point of approximately $30,000, making it more accessible than the Model 3 and Model Y.