Tesla Tuesday: Elon Musk teases new EV amid buzz over low-cost model

Tesla teased a new product release scheduled for October 7, revealed through a cryptic nine-second video showing a vehicle silhouette with illuminated headlights and the message “See you Tuesday.” This teaser has sparked widespread speculation that Tesla may announce a much-anticipated affordable electric vehicle (EV) model, aimed at expanding its lineup beyond premium offerings. Reports suggest this budget model could be about 20% cheaper to produce than the new Model Y and potentially reach an annual production scale of 250,000 units in the U.S. by 2026. Tesla faces pressure to refresh its aging product line, which currently relies on incremental updates to the Model 3 and Model Y, especially following the expiration of the $7,590 U.S. EV tax credit on September 30, which may affect buyer behavior and pricing strategies. Beyond the affordable EV speculation, some analysts believe the teaser might hint at Tesla’s next-generation vehicle or innovations like a recently patented fan-based aerodynamic downforce system. The long-awaited next-generation