"Tesla's Redwood: New Mass-Market EVs Set for Mid-2025 Production"

Tesla plans to start production of a new mass market electric vehicle codenamed "Redwood" in mid-2025, aiming to compete with cheaper gasoline-powered cars and inexpensive EVs. The model, described as a compact crossover, is part of Tesla's efforts to offer more affordable electric vehicles, including an entry-level $25,000 car. CEO Elon Musk has long promised affordable electric vehicles and self-driving robotaxis, with plans to achieve combined sales of 5 million vehicles a year. However, Tesla has a track record of missing targets for launches and pricing, and making a profit from cheaper EVs will be challenging.