Tesla Says More Affordable Models Launching This Year: 'They Will Be Affordable And You'll Be Able To Buy One'

Tesla Inc. TSLA says the company plans to launch more affordable models this year amid rising pressure from global competitors.

What Happened: At the earnings call on Tuesday, the company shared that it was working out any ‘last-minute issues' with the product and that the production is reeling from the effects of the current ‘trade' and ‘global' issues.

The company also shared that the planned affordable models will resemble the cars currently in Tesla's line-up. Tesla's current line-up includes the Model S, Model Y, Model 3, Model X, and the Cybertruck.

Why It Matters: While news of a more affordable Tesla model has been in the headlines for a while, it's worth noting that the company has recently delayed the launch of an affordable Model Y.

Elsewhere, Elon Musk also outlined an update on Tesla's Optimus line of humanoid robots, which has been hit with disruptions following China's halt on the export of rare earth metals.  

Tesla's earnings call looked back on what was a lackluster quarter for the company, with dwindling sales figures and increased criticism from investors for Musk's involvement with politics. However, the billionaire shared with investors that he will be rolling back on his DOGE commitments.

Price Action: TSLA is currently trading at $237.97 on NASDAQ, according to Benzinga Pro data.

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