Elon Musk’s big bet: Timeline for Tesla’s long-awaited affordable EV revealed
- by The Financial Express
- Jul 24, 2025
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India’s next big EV SUV revealed in Indonesia: When will it land here?
The initial plan of the company was to build a new platform for the affordable EV, but now it will use the Model 3 and Model Y architecture. It is expected to be a stripped-down version with fewer features and budget-based materials. In terms of size, the new EV is going to be slightly smaller than the Model Y.
The new EV has been doing test rounds, and the fully clad, camouflaged vehicle has been spotted near Tesla’s manufacturing plant in California.
Third time is a charm
This is not the first time Tesla has announced that it will enter the affordable segment. According to Electrek, the company has twice worked on this project, which was later scrapped by Musk. It was popularly called “the $25,000 Tesla” and internally called NV91 and NV92. Tesla was working on a new platform, but Musk rejected it as the Model 3 and Model Y production lines were not operating at full capacity due to the slowdown in demand. Hence, Tesla shelved the project, which will, later on, be used as Cybercab.
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