Tesla teases reveal of new EV on October 7
Tesla just dropped a teaser for an event on October 7, and all signs point to the reveal of its much-awaited budget electric car.
The video, posted on X (formerly Twitter), shows off a mysterious car silhouette with glowing headlights and the words "See you Tuesday" alongside the date.
This announcement comes right after the US $7,500 EV tax credit expired at the end of September, which analysts say could prompt Tesla to accelerate its focus on more wallet-friendly options.
Tesla's Model Y variant could be the focus
Word is, Tesla's working on a lower-cost version of its Model Y that'll be about 20% cheaper to make than today's model.
Early builds are already done and sales could kick off as soon as late 2025.
With this move, Tesla is aiming to ramp up US production and take on other brands rolling out affordable electric cars.