"Tesla's 2025 Electric Vehicle Expansion Revealed by Reuters"

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 affordable 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 history of missing targets for launches and pricing, and making a profit from cheaper EVs may be challenging due to battery costs and production difficulties.