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On July 24, Tesla announced that it had commenced production of the first batch of its affordable models in June, with mass production anticipated in the second half of the year. Amid economic uncertainties, Tesla had previously rescinded its annual delivery projections, and second-quarter revenues witnessed a 12% year-on-year decline, marking the steepest drop in over a decade. Industry analysts predict that this more budget-friendly model will give a significant boost to Tesla's sales figures. The company had earlier indicated that production of this model, reportedly a simplified version of the Model Y, would commence towards the end of the first half of the year. However, on Wednesday, Tesla refrained from disclosing specific details or production volumes regarding this new model.
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