Tesla promises affordable cars sooner than announced. Stocks Soar – Automobile

Tesla indicated on Tuesday night that it will accelerate the launch of electric car models at more affordable prices. And it was exactly this promise made by Elon Musk’s company that excited investors despite the results in the first quarter being below what analysts expected.

These cheaper models were scheduled for the second half of 2025. But Musk, last night, said that the company is accelerating the development of the new models using parts of a new platform that was scheduled for the second half of next year. The Tesla CEO pointed out that the new models will be manufactured on current production lines and will be ready at the beginning of next year or even at the end of this year.

Most investors and analysts see the mass production of an affordable electric model as the next “engine” of growth for the company. And uncertainties regarding the calendar or even the viability of this project have been penalizing Tesla’s shares.

Reuters even reported, earlier this month, that Tesla had even abandoned the project, which Musk promptly denied.

After one hour of trading in this Wednesday’s session, Tesla’s shares soared 13.92%, to $164.82, which puts the manufacturer’s market capitalization once again above the $500 billion threshold.