Tesla is preparing to introduce a new model - Redwood

The automaker has announced plans to start production of a car codenamed Redwood. Tesla has sent out "requests for quotes" or invitations to bid for the Redwood model. It is planned to produce 10,000 electric cars per week. Production of the car should begin in June 2025. The selling price of the car has not yet been announced. The new model will allow Tesla to compete with China's BYD, which overtakes the automaker in sales of electric vehicles in the fourth quarter of 2023. (526.4 thousand for BYD, 484.5 thousand for Tesla). The timing of the next generation of compact cars has been one of the top questions among investors ahead of Tesla's quarterly financial report. Tesla's next-generation platform, called the NV9X, will allow the automaker to produce two or more models, sources said. Elon Musk announced at the shareholders meeting in May 2023 about the production of two new cars, "one is being 'designed' and the other is already being 'built'". Both will be available at "affordable prices" and will be produced in "larger volumes." said his words.