In recent months, Tesla has announced plans to produce a new, affordable electric vehicle (EV) codenamed “Redwood,” targeting a price point of around $25,000. This move is seen as a response to increasing competition from Chinese EV manufacturers like BYD, which have surpassed Tesla in global EV sales

However, some reports suggest that Tesla may be shifting its focus away from traditional EVs. For instance, the company has unveiled plans for the “Cybercab,” a fully autonomous electric vehicle designed for ride-hailing services. Production of the Cybercab is not expected to commence before 2026 .

Additionally, Tesla is investing in robotics, with Elon Musk stating that the long-term value of Tesla’s humanoid robot, Optimus, could exceed that of all other Tesla products combined .

Despite these developments, Tesla continues to plan for the production of new EVs, including the Redwood model. The company’s strategy appears to be diversifying its portfolio to include both affordable EVs and innovative technologies like autonomous vehicles and robotics.

In conclusion, while Tesla is exploring new avenues beyond traditional EVs, it is not abandoning its core business. The company aims to lead in both the electric vehicle market and emerging technologies, ensuring its position at the forefront of the automotive and tech industries.