Tesla prices Model Y standard below $40,000

Tesla’s The website shows it prices the Model Y under $40,000.

The company also announced a new version. fully autonomous driving Technology inspected Tuesday morning.

Over the weekend, Elon Musk’s company shared a teaser clip It contains a rotating component emblazoned with a logo, which can be anything from a hubcap to a fan or turbine. The clip ended with the number “10/7” indicating the date of Tuesday’s announcement.

Tesla released a second clip To X showing the outline of a vehicle’s headlights in the dark on Sunday.

Shares rose 5% on Monday as excitement grew online about what the announcement would be.

Investors are waiting for the reveal of Tesla’s stripped-down, lower-cost Model Y, but they’re also hoping for updates on the next-generation Roadster that Musk has been promising for years.

Or it could be something else.

The company hasn’t launched a new model vehicle since it started shipping its boxy unpainted steel pickup, the Cybertruck, in late 2023.

Musk first introduced the Cybertruck at a “teaser” event in 2019; His demo went wrong and he broke a window. The Cybertuck has never reached the level of popularity of Tesla’s Model 3 sedan or Model Y SUVs and has been the subject of at least eight voluntary recalls in the United States.

After several quarters of declines in auto sales, Tesla is trying to shift investors’ attention to its future as a robotics and driverless car business.S.S.

The collapse was due in part to consumer backlash against Musk, his support for far-right political parties and figures, and his incendiary political rhetoric. But this is also due to an aging product range and increasing competition from companies such as Volkswagen and BYD.

In mid-October last year, Tesla held its invitation-only “We the Robot” event in Hollywood, where it showed off its low-slung, two-seat Cybercab concept with no steering wheel or pedals. Musk said the driverless car will cost about $30,000.

As of the company’s second-quarter earnings release, it had not yet started production.

At an event in late 2017, Musk promised Tesla that he would produce a next-generation Roadster, but the vehicle never went into production. Musk has promised that the Roadster will “be able to fly” by 2021 and said last year that the hard-to-find sports car was being redesigned in collaboration with aerospace and defense contractor SpaceX.

Musk has been promising to turn existing Tesla EVs into robotaxis with a software update for nearly a decade.

The company currently has human safety drivers in its Robotaxi branded test and fleet vehicles, unlike its robotaxi competitors. alphabet Waymo and Baidu’s Go Apollo.

In the field of humanoid robots, Musk said Tesla’s Optimus robots could work in a factory or babysit your kids, but they haven’t hit the market yet. Meanwhile, competitors like Agility Robotics and Unitree already sell bipedal, humanoid robots.

After a brutal first quarter in which Tesla lost 36% of its value, the stock tumbled, rising 40% in the third quarter. Now there is a 12% increase for this year. The rise in stock prices was helped by Musk, who purchased nearly $1 billion worth of Tesla stock in mid-September.

WRISTWATCH: Tesla announces new product launch