SpaceX and Tesla CEO Elon Musk is taking part in the Viva Technology Conference held at the Porte de Versailles Exhibition Centre in Paris on June 16, 2023.
Gonzalo Fuentes | Reuters
Tesla We posted a teaser video to X-Spark speculation that the electric car maker may be preparing to release a new car.
The first video posted on Sunday shows spinning components that many online said could become internal components of the vehicle. The video ends with the number “10/7” indicating the date for Tuesday.
The second video posted on Sunday shows only the car’s headlights.
The teaser sparked a conversation between online and analysts about what Tesla is doing – and two theories emerged.
First, Tesla CEO Elon Musk could be the next generation roadster vehicle that has been promising for many years.
Second, Tesla may be about to unveil the much-anticipated mass market model.
Musk teased the next-generation Roadster concept in a series of tweets in June 2018 at the November 2017 event.
The billionaire then repeatedly hyped the vehicle, stating on X in September that “the new roadster is more special than the car.”
Musk has a promising history of being either not delivered or takes much longer than he originally said.
Meanwhile, Tesla says cheaper mass market cars will be on the market this year. However, Musk has confirmed that this low-cost offer will effectively become a removed Model Y.
For investors, the mass market model is seen as the key to energizing Tesla sales. Tesla reported a surge in car delivery in the third quarter of the year, due to the withdrawal of demand due to the expiration of the federal tax credit. In the previous quarter, Tesla reported a decline in delivery.
The company has seen a continuous slump in sales in Europe. It also continues to face fierce competition in China, another important market, from local players like BYD, which is expanding overseas.
Chinese players have launched low-cost products in Europe and elsewhere, putting pressure on Tesla to release models at the mark of around $25,000 to $30,000.
