Tesla Accelerates Towards the Future: New Models and Autonomous Ride-Hailing

Tesla is set to introduce cheaper electric vehicle models by mid-2025 and commence autonomous ride-hailing testing in June. Despite a dip in quarterly deliveries, the company is reducing costs and using its current vehicle platform for more affordable models, seeking future growth in the EV market.

Tesla is gearing up to unveil new, cost-effective electric vehicle models in the first half of 2025. The company has also announced plans to kick off an autonomous ride-hailing service test in June, generating excitement among investors even as quarterly results fell short of expectations.

The electric carmaker aims to counter past delivery declines by introducing lower-priced models, emphasizing its autonomous vehicle plans as crucial to its financial strategy. CEO Elon Musk assured that testing for a fully autonomous paid car service will begin in Austin, Texas, within months.

Tesla is cutting production costs and has plans for commercial-scale robotaxi manufacturing by 2026 in Texas. The company reported lower profit margins in Q4 but hopes for a return to growth, spurred by advancements in autonomous technology and expanded energy storage solutions.

(With inputs from agencies.)