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Elon Musk Announces Tesla’s Upcoming 2 New Vehicles Will Sell 5 Million Units a Year

Tesla CEO Elon Musk at the recently held Tesla Shareholders meeting announced that the EV maker is working on 2 new vehicles. Musk also said that the compact robotaxi and the yet-to-be-publicly shared vehicle will sell 5 million units a year.

On May 16, 2023, Tesla held its annual shareholder meeting in Austin, Texas. During the meeting, CEO Elon Musk took to the stage to address shareholders. In his hour-long presentation, even though Musk did not make any new major announcements, the Tesla CEO still shared several exciting tidbits about Tesla’s future plans.

The new tidbits covered all aspects of Tesla’s business including some new information regarding the Cybertruck, FSD beta, energy products, advertisement strategy, and everything in between.

All the updates on Tesla’s various products were certainly exciting; however, the biggest news we learned from the annual shareholder meeting might be Musk’s announcement regarding Tesla’s upcoming vehicles.

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Currently, it's a little hidden fact that Tesla is in earnest working on the company’s next-generation vehicles. For a while now, we have known that Tesla is working on a compact vehicle that will go at a lower segment than the Model 3 and Y.

Musk has previously said that Tesla’s internal name for this vehicle is Robotaxi. We’ve known about the robotaxi since 2020 when Tesla introduced it as the $25,000 car, however, lately Tesla has also hinted that the EV maker is also working on a second new vehicle.

There is less information known regarding this vehicle than even the sparse details we know about the “robotaxi”. However, according to Tesla’s Investor Day presentation and Master Plan Part 3, we know that the second new vehicle Tesla is working on is a larger vehicle most likely to be a van or a small bus, or as Musk likes to refer to it “a high passenger density vehicle.”

We know that one or both of the vehicles are expected to first begin production at Tesla’s newly announced Gigafactory in Nuevo Leon, Mexico. We also know the vehicles will be built using Tesla’s next-generation Gen-3 platform.

The Gen-3 platform is expected to be the basis for several new vehicles currently under development. It is expected to cut costs by as much as 50% by completely rethinking how vehicles are made.

The lack of information regarding these vehicles has been frustrating however, yesterday, Musk revealed some information about the upcoming two new vehicles that suggest they will be a homerun for Tesla.

Even though Musk stopped short of sharing the specs of the new vehicles, the Tesla CEO said that with the two vehicles combined, Tesla plans to sell 5 million units a year. To put that into perspective, last year, producing 4 vehicle variants, the Model S, 3, X, & Y, Tesla sold 1.34 million vehicles.

This means, if Musk’s plans for Tesla's upcoming two new vehicles come true, Tesla will sell 3 times more vehicles of the yet-to-be-announced vehicles than Tesla’s entire lineup did in 2022.

This is certainly exciting and suggests that even though Tesla has not shared details of the new vehicles, the EV maker nonetheless is working on products that will revolutionize the EV maker’s vehicle lineup.

Currently, this is all the information we have regarding the new vehicles however, we will be sure to keep you posted as we learn more about Tesla’s plans. Until then, make sure to visit our site regularly for the latest updates.

So what do you think? Are you excited to learn that Tesla is working on 2 new vehicles? Are you more excited about the robotaxi or the van/bus? Let me know your thoughts in the comments below.

Image: Courtesy of Tesla

For more information check out: Tesla Model 3: Complete Redesign By Tesla

Tinsae Aregay has been following Tesla and The evolution of the EV space on a daily basis for several years. He covers everything about Tesla from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.