It’s Tesla earnings call time, folks. Today, the brand published its fourth-quarter 2024 results. Yes, its electric vehicle sales are down, but the documents revealed a few goals and promises for future products. Tesla wants to expand downward and plans on new models, including focusing on cheaper models.

“Plans for new vehicles, including more affordable models, remain on track for the start of production in the first half of 2025. These vehicles will utilize aspects of the next-generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle line-up,” the automaker said. Keep in mind this is different than the Cybercab, which Tesla claims will go into volume production in 2026.

If that sounds familiar, it’s because it is. Tesla used almost the exact same verbiage last year in its second-quarter 2024 earnings call. At least so far, Tesla has offered few new specifics about this new model and/or models it’s supposedly cooking up over the next few months. 

But the new models could be more sophisticated than a de-contented Model 3 or Model Y. The latest investor report goes further, with a whole list of things from the Cybertruck that will be used in “Future Vehicles.” Steer-by-wire, 800V architecture, rear-wheel steering, giga-casting, it’s all there. 

At the same time, it feels unlikely that every innovation will be used on whatever budget model Tesla chooses to introduce. Some of the more sophisticated technologies, like air suspension, an 800V electric architecture and other features, will likely be left on the showroom floor. Tesla says this will let it fully utilize its full production capacity and grow sales numbers by 60%.

Yet, despite the call’s hour-long presentation and Q&A session with Tesla and investors, very little was said about the future car itself. Neither the CEO nor CFO answered any questions about its future cheap EV, nor did its investors ask any. 

So, I guess we’ll just have to stay tuned and see if Tesla drops a cheap car surprise sometime before the middle of the year.

Contact the author: [email protected]