Tesla Unveils 2025 Growth Strategy, Building on 2024 Development Success

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Tesla presented its 2024 results during the Q4 2024 Earnings Call. The company reported a slight decline in deliveries but is set to turn things around in 2025. Tesla has outlined a path to growth this year, unveiling a specific strategy.

2025 Growth Strategy

The first point of the presented strategy was new affordable models. The company is preparing to begin production of them this year. Tesla is developing a lower-cost vehicle platform based on both the existing Model 3/Y platform and the next-generation platform. According to the statement, these cars are planned for production in the first half of 2025.

Another important component is self-driving and Robotaxi. The company is set to significantly expand its Full Self-Driving (FSD) capabilities, which were recently demonstrated at Tesla’s Fremont factory. Cars without a driver left the production line and drove themselves to a logistics yard.

Also, during the earnings call, Elon Musk announced the planned launch of a paid FSD Unsupervised (Robotaxi) service in Austin, Texas, in June 2025. He said that a launch in California and some other US markets is also planned for this year.

Another pillar of growth this year is the Energy business. Tesla expects energy storage deployment to grow at least 50% year-on-year in 2025. The company is projecting this growth by opening a new Megapack factory in China, while its US Megafactory continues to operate at full capacity.

Tesla Unveils Updated Model Y in North America

The company has officially unveiled the updated Model Y for the North American market. This comes two weeks after its initial unveiling in several Asia-Pacific markets, including China. A limited edition “Launch Series” of the new Model Y Long Range All-Wheel Drive (AWD) has been launched in the US and Canada. In the US, the cost of Long Range AWD now starts at $59,990, up $4,000 from the price of its old model.

Model 3 Named Most Fuel-Efficient Car to Run in the US

Meanwhile, Tesla continues to earn accolades for its existing products. According to a recent study by Self Financial that looked at fuel costs, maintenance, insurance, and annual fees, Tesla Model 3 was found to be the most fuel-efficient vehicle among the 50 best-selling cars in the US.

The average car in this study costs $6,462 per year to run considering fuel and energy costs, insurance costs, maintenance costs, and annual fees and taxes, calculated using the American Automobile Association (AAA) calculator. Tesla Model 3 is the least expensive car to run, with an annual running cost of $5,061. Notably, the annual charging cost for the car is only $636.

Tesla Activates 325kW Charging at All V4 Supercharger Stations in North America

The company has officially launched 325kW charging at all V4 Supercharger locations across North America. At this point, only Cybertruck and some other electric vehicles can take advantage of the upgrade.