Tesla prices standard Model Y for less than $40,000

Tesla has priced the Model Y at less than $40,000, the website says.

The company also announced a new version of its fully autonomous and supervised driving technology on Tuesday morning.

Over the weekend, Elon Musk’s company shared a teaser featuring a rotating component emblazoned with a logo that could be anything from a wheel cover to a fan or turbine. The clip ended with the numbers “10/7,” indicating the reveal date of Tuesday.

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

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

Investors are expecting the reveal of Tesla’s sleek, less expensive Model Y, but are 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 put a new vehicle model on sale since it began shipping the Cybertruck, its angular, unpainted steel pickup, in late 2023.

Musk initially promoted the Cybertruck at an “unveil” event in 2019, where his demo went wrong and he broke a window. The Cybertuck never reached the level of popularity of Tesla’s Model 3 sedan or Model Y SUVs and was the subject of at least eight voluntary recalls in the United States.

While its auto sales have been declining for several quarters, Tesla is trying to focus investors’ attention on its future as a robotics and self-driving car company.ss.

This crisis results in part from consumer backlash against Musk, his support for far-right political parties and figures, and his inflammatory political rhetoric. But it’s also due to an aging range and increased competition from companies like Volkswagen and BYD.

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

At the time of the second quarter results release, the company was not yet in production.

At an event in late 2017, Musk promised that Tesla would make a next-generation Roadster, but the vehicle never entered production. In 2021, Musk promised the Roadster would be able to “fly,” and last year he said the elusive sports car was being redesigned in collaboration with SpaceX, his aerospace and defense contractor.

Musk has been promising to turn existing Tesla electric vehicles into robotaxis with a software update for about a decade.

The company currently has human safety drivers in its Robotaxi-branded test and fleet vehicles, unlike robotaxi competitors like The alphabet Waymo and that of Baidu Apollo Come on.

In the area of ​​humanoid robots, Musk has said that Tesla’s Optimus robots would be able to work in factories or babysit your children, but they have not yet been commercialized. Meanwhile, competitors like Agility Robotics and Unitree are already selling bipedal humanoid robots.

After a brutal first quarter that saw Tesla lose 36% of its value, the stock is in free fall, jumping 40% in the third quarter. It is now up 12% over the year. This share price rise was facilitated by Musk, who himself purchased approximately $1 billion worth of Tesla stock in mid-September.

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