Tesla slightly addressed whether or not it will be pushing forward with the debut of new models later this year in its latest earnings call. The company’s product development executive, Lars Moravy, shared some details about Tesla’s design process and the upcoming affordable models.

“We’re still planning to release models this year. As with all launches, we’re working through, like, the last minute issues that pop up. We’re knocking them down one by one. At this point, I would say that the ramp might be a little slower than we had hoped initially…But there’s nothing that’s blocking us from starting production within the next, within the timeline laid out in the opening remarks.

“And I will say it’s important to emphasize that, as we’ve said all along, the full utilization of our factories is the primary goal for these new products. And so the flexibility of what we can do within the form factor and, you know, the design of it is really limited to what we can do on our existing lines rather than building new ones. But we’ve been targeting the low cost of ownership. Monthly payment is the biggest differentiator for our vehicles, and that’s why we’re focused on bringing these new models with the, you know, the lowest price, to the market, within the constraints I just highlighted.”

The Model 3 is a hell of a deal, ngl. With the federal tax credit, it'd be silly to get a comparably priced combustion-powered car.

Now for the big question. Is the Model 3 currently the best-looking Tesla? https://t.co/5E37J9OKhU

— TESLARATI (@Teslarati) April 24, 2025

In January, Tesla’s Chief Financial Officer Vaibhav Taneja teased several new product introductions for this year. There is at least one product that most Tesla supporters and investors are hoping to see: the company’s affordable vehicles, which have been dubbed by the EV community as the “Model 2” or “Model Q.”

Before Tesla’s Robotaxi event last year, many speculated that the company would also unveil its affordable next-gen vehicle. Gene Munster from Deepwater had expected Tesla to release a stripped-down version of the Model 3 as its affordable vehicle during the Robotaxi event. In the end, Tesla unveiled its Robotaxi vehicle and its Robovan design.

It’s been a while since the Robotaxi event, and Tesla has kept mum about its affordable vehicle. Considering its Q1 2025 performance, TSLA investors look forward to catalysts that could boost the stock.

The “Model 2” has been labeled a potential catalyst for Tesla. As such, TSLA investors and supporters have been itching for news about the new affordable vehicle. The main questions surrounding the “Model 2” revolve around its design and price. Based on Moravy’s statement, the “Model 2’s” design will heavily depend on Tesla’s current assembly lines and supply chain structures.

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Perhaps one of the biggest and most popular reasons people are switching to EVs is the cost savings. Combining home charging, lower maintenance costs, and tax credits has all enabled consumers to consider EVs as a way to save money on their daily drivers. However, there are some EVs that are more efficient and cost-effective than others.

Tesla police fleet saves nearly half a million in upkeep and repair costs

Zutobi‘s new study shows that EV cost-effectiveness comes at different levels. For example, some cars are simply better than others on a cost-per-mile basis. The study used a simple process to determine which EVs are more cost-effective than others by showing how much it would cost to drive 100 miles.

National averages for energy rates have been used to calculate the cost as they widely vary from state to state.

The Rear-Wheel Drive Tesla Model 3 was listed as the most economical vehicle in the study:

“The standard Tesla Model 3 is the most economical electric vehicle to drive in 2025. With a usable battery capacity of 57.5 kWh and a real-world range of 260 miles, it costs just $3.60 to drive 100 miles. That translates to an impressive 2,781 miles per $100 of electricity—making it the most efficient choice for EV owners nationwide.”

It had an estimated cost of just $3.60 to drive 100 miles.

The Tesla Model 3 Long Range All-Wheel Drive was second, the study showed:

“Next is the Long Range version of the Model 3, which offers extended range and dual-motor all-wheel drive. With a larger 75 kWh battery and 325 miles of range, the cost to drive 100 miles is slightly higher at $3.75, still equating to a strong 2,665 miles per $100.”

This version of the Model 3 had a price of just $3.75 to drive 100 miles.

In third, the BMW i4 eDrive35 surprised us with a cost of just $4.12 to drive 100 miles:

“Rounding out the top three is the BMW i4 eDrive35, with a 67.1 kWh battery and a real-world range of 265 miles. Drivers can expect to pay $4.12 per 100 miles, which still allows for 2,429 miles per $100—a solid choice for those seeking luxury and efficiency.”

Several other Teslas made the list as well. The Model 3 Performance ($4.34 per 100 miles) was sixth and tied with the Volkswagen ID.3 Pure, the Tesla Model S Long Range ($4.35 per 100 miles) was 8th, and the Tesla Model Y Long Range was ninth ($4.36 per 100 miles).

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The Bargersville Police Department’s recent comments about its savings were outlined in an IndyStar report.

Big Savings

The Bargersville Police Department started with one Tesla in 2019, but it has since added another dozen more. In a comment to the publication, police chief Todd Bertram stated that the department has been very happy about the cost-effective nature of the all-electric police cars.

“I couldn’t even begin to say how much money the department has saved. Since 2020, I’d say we’ve been saving about $70-80,000.00 a year from having our vehicles, and the more cars we get, the more savings too,” the police chief stated.

Thus, as per IndyStar, the department has saved almost half a million dollars in car upkeep and repair costs over the past five years.

Taxpayer Money

To explain his point further, Bertram stated that in June 2024, he received a monthly gas bill of over $3,100 for the department’s four Ford vehicles. The Bargersville PD’s Tesla fleet, which was comprised of 13 cars, incurred a combined charging cost of $300 for the month. As per the police chief, that’s a lot of savings for taxpayers.

“That’s a lot of taxpayer money. The original Tesla we first got in 2019, we sold for $21,000. We tend to do that when it hits closer to 100,000 miles or if it gets closer to the warranty. That’s based on the decisions made by the city council,” he said.

Bertram also noted that since they were deployed, the department has never had to replace any brakes on its Tesla fleet. And when a Tesla police car did need repair, it was accomplished under warranty, and in a timely manner, too.

“That Tesla’s turn-around time was only three days and it was covered under warranty which means we didn’t have to pay. Compare that to a gas vehicle that had to stay in the shop for a week,” Bertram stated.

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As per the China Automotive Research Institute, however, Tesla vehicles are not just safe from electromagnetic radiation—they are actually some of the safest vehicles in the market when it comes to radiation protection.

Tesla Model 3 and Model Y’s Results

As per Tesla China VP Grace Tao in a post on Weibo, the idea that electric vehicles expose occupants to electromagnetic radiation is a product of misinformation. As per the Tesla executive, the Model 3’s magnetic field strength near the driver and passenger’s head in the cabin only reaches 0.08-1.30μT, which is far lower than the magnetic field one would be exposed to if they use a conventional electric blanket. 

“Taking Model 3 as an example, the magnetic field strength near the driver and passenger’s head in the car is only 0.08-1.30μT. In most cases, the magnetic field strength of an electric blanket close to the body is about 10-50μT, which is tens or even hundreds of times the strength inside a Tesla car, so car owners can rest assured,” Tao wrote in her post.

Beyond Standards

The Tesla VP added that the electromagnetic radiation values of Tesla’s vehicles are far lower than national and World Health Organization standards. During tests from the China Automotive Research Institute, the Model 3 and Model Y received five-star ratings of 100 and 98.6 points, which were notably better than combustion-powered cars and other electric vehicles that were tested in the same batch.

Tao explained how Tesla was able to achieve these scores below:

“How did Tesla do it? First of all, our centralized electronic and electrical architecture reduces the number of wiring harnesses a lot, and shielded cables are added, blocking 99.9% of the electromagnetic field energy. In addition, the network transmission antenna is installed outside the car, and the power of the Bluetooth transmitter is only a few milliwatts, so even if the people in the car are equipped with pacemakers, they will not be interfered with,” the Tesla VP wrote.

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After Tesla unveiled the Cybercab in Los Angeles in early October, the company suggested that it would be on its way to launching driverless rides in the U.S. in the near future.

Now, Tesla is inching toward a driverless ride-hailing service in Austin, Texas, among some other potential locations, but it is still working toward a platform that is robust enough to handle it.

Although the company’s Full Self-Driving suite is one of the more advanced on the market, Tesla is still working to accomplish what it feels is a mode of transportation that is safer than a human driver. The robotaxi and Cybercab rollouts will likely accomplish that, but there is still work to be done beforehand.

Now, Tesla is testing a Model 3 in the U.S. that was spotted in several different locations in the Northeastern part of the country, as cameras are seen on this vehicle in locations that are not necessarily typical for what it offers currently:

A user on r/TeslaMotors spotted this Model 3 with some interesting and never-before-seen camera locations.

Possible Cybercab or Next-Gen testing? pic.twitter.com/J6W6cKCiL9

— TESLARATI (@Teslarati) March 31, 2025

Another one is seen here:

@teslascope Tesla spotted collecting Cybercab data WITH front bumper cam in Boston, MA. (Potentially different front cameras too.) Is Tesla currently including bumper cam video in training data? Will this be required for Unsupervised? pic.twitter.com/5rHPOp2tBe

— Dylan (@Dylan02939106) March 31, 2025

Interestingly, we saw similar camera locations on the Cybercab at the event in October. Tesla is not testing the Cybercab but instead implementing these cameras on a comparable position on its other vehicles.

These are the cameras we spotted on the Cybercab at the event in October:

In the past, Tesla has used a variety of strategies to measure self-driving accuracy, including LiDAR, which has been seen on some testing mules that we have spotted out in public.

Tesla CEO Elon Musk has said that the company does not need LiDAR on testing mules for ground truth, but we still spot them from time to time on public roads.

It’s an appropriate way just to cross Ts and dot Is:

Tesla Model X testing mule spotted with LiDAR rig ahead of Robotaxi event

The company is still moving toward that initial rollout of driverless ride-hailing in Austin in June, and some company executives have stated that the Cybercab will be the vehicle it uses for these initial rides.

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On Monday, Tesla began offering zero-interest loans with one- to three-year terms on purchases of the new Model Y, available between April 1 and 30 on the company’s order configurator. In addition, the automaker is offering a one- to five-year interest plan with annual rates as low as 1 percent when buyers make a down payment of at least RMB 45,900 (~$6,325).

Tesla China’s April 2025 Model Y promotions

Credit: Tesla China

You can read more details on Tesla China’s zero-interest promotion below, as detailed on the order configurator page and translated into English from Chinese.

Rejuvenated Model Y rear-wheel drive version, long-range all-wheel drive version – limited-time 0-interest/low-interest loan scheme

Customers who purchase the new Model Y rear-wheel-drive version/long-range all-wheel drive version/long range during the event from April 1, 2025 to April 30, 2025, and deliver and pay in the order before the expiration date of the vehicle, customers who meet the application qualification can apply for the following financial preferential schemes:

• • Starting from RMB 79,900, you can enjoy a 1 to 3 year 0 interest plan
  • From the down payment of RMB 45,900, you can enjoy a 1- to 5-year low-interest program with an annual rate of 1.00 percent (from 1.84 percent).

Tesla China’s April 2025 Model 3 promotions

Credit: Tesla China

The company is also offering five-year, zero-interest financing for the Model 3 RWD and AWD Long Range, and you can see the terms for the zero- and low-interest Model 3 promotions and others below:

Tesla first launched the refreshed Model Y in China in January, debuting the refaced vehicle with a special “Launch Edition” series that came with special badging and an extra two years or 40,000km (~24,855 miles) of warranty time. Deliveries of the Launch Edition Model Y began in China late last month, and Tesla officially transitioned to selling non-Launch models in the first few days of March.

For the Chinese market and several others, Tesla produces the Model Y and Model 3 at a Gigafactory in Shanghai. In recent weeks, reports have suggested that Giga Shanghai may also be looking to produce an even cheaper version of the new Model Y without some of the extra add-ons, perhaps not unlike the cheaper Model 3 that launched in Mexico last August.

Tesla launches massive promotion in China for FSD

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Tesla recently delivered its 250,000th electric vehicle (EV) in the United Kingdom (UK). The American EV maker delivered its 200,000th car in the UK on March 28, 2024.

The 250,00th Tesla vehicle delivered in the UK was handed over to the Cotters, a small family of four with two children. The Cotters received a Tesla Model 3, showing that it still has a place among families.

Tesla UK sales increased by over 20% in February, with almost 4,000 units sold. Last month, the Tesla Model 3 and Model Y ranked second and third, respectively, as the UK’s most popular cars. The Mini Cooper was the UK’s most popular car in February.

Tesla’s brand in the United Kingdom appears untainted by the recent controversy surrounding Musk, leading people in the United States to vandalize Tesla vehicles, stores, and Superchargers.

In the United States, the FBI has created a task force to squash Tesla attacks and end the acts of “domestic terrorism.” At least four people have been arrested related to Tesla attacks, one of which drove a car into a group of people protesting in front of a Tesla store. The other three allegedly threw Molotov cocktails at Tesla vehicles, stores, and Superchargers.

Wall Street analysts have acknowledged the adverse effect anti-Tesla sentiments could have on the company stock. However, the Tesla attacks have little to no impact on analysts’ recent Tesla target price estimates or predictions.

A few analysts have reduced their Tesla price targets as the first quarter ends. Wells Fargo’s Colin Langan cut Tesla’s price target to $130, while RBC slashed it to $320. However, some analysts maintained their price target, like Canaccord Genuity.

“Our estimate is informed by our opinion that some consumers are delaying vehicle purchases to access the new Model Y and 4Q24 earnings call commentary regarding Model Y-related factory retooling limiting production…We wonder whether purchase decision delays and production limitations are being misinterpreted as halted overall momentum for Tesla,” Canaccord analysts noted.

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Tesla China’s insurance subsidy deadline for the Model 3 has been extended to March 17, 2025, giving customers still on the fence about a purchase more time to decide. The Model 3’s insurance subsidy in China is RMB 8,000 or $1,101.

Tesla China’s $1,101 insurance subsidy applies to all Model 3 variants purchased on or before March 17, 2025. Model 3 buyers in China may also avail Tesla’s 5-year 0% interest financing program. Down payments for Tesla’s 0% interest financing program start at RMB 79,900 ($10,997) and offer monthly payments as low as RMB 2,460 ($339).

Tesla China sold 30,688 vehicles in February, including domestic and export sales, a 49.16% plunge from 60,365 the previous year and a 51.47% drop from January’s 63,238, according to data from the China Passenger Car Association (CPCA). For January-February, Tesla China’s total sales hit 93,926, down 28.74% from 131,812 in the same period last year.

Across the globe in the United States, Tesla launched two promos for the Model 3 before the end of Q1 2025. The company offers 0% APR financing, $0 due at signing, and 60-month terms for all Tesla Model 3 trims.

The $7,500 federal tax credit is still available for all Tesla Model 3 purchases for the quarter. President Donald Trump has talked of eliminating the tax credit. However, the Trump administration has not confirmed when it plans to end the $7,500 government incentive.

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With just a few weeks left in the first quarter of year, Tesla is now offering three separate incentives for all Model 3 trims in the U.S., including zero-percent APR financing, $0 due at signing, and 60-month terms. The promos were announced on social media and they’re currently also detailed on the company’s order configurator for the electric vehicle (EV).

Credit: Tesla

Tesla North America announces a new set of incentives for the reengineered Model 3 sedan.

0% APR for all Model 3 trims
$0 due at signing
60 month terms

Not bad at all for one of the best bang-for-the-buck vehicles, electric or otherwise, in the market today. pic.twitter.com/3vM7Ioo2lV

— TESLARATI (@Teslarati) March 4, 2025

To qualify for the zero-percent APR deal in the U.S., buyers must put a down payment of at least 15 percent down, though Tesla also says the federal tax credit can go toward this if eligible. The $0 due at signing deal comes at a 0.99 percent APR with the use of the tax credit, and both of the deals come with 60-month terms.

At the time of writing, the $7,500 federal tax credit is also still available for all three Model 3 trims, amidst some speculation around whether or not the Trump administration could do away with the government incentive. Tesla’s website does not currently show the incentive on the order configurator in Canada, though the company is still offering a 0.99-percent APR deal on orders placed before March 7. On the Mexico order configurator, neither of these promotions are currently available.

It’s common for Tesla to push additional promos at the end of each quarter, and especially at the end of the year, to try to boost delivery numbers that will be included with quarterly data. The news also comes after Tesla began deliveries of the Model Y refresh in the U.S. earlier this week, after first deliveries of the Gigafactory Shanghai-built SUV started going out last week.

Tesla originally launched the refreshed Model 3 last January, a few months after the redesigned sedan became available in the Asia-Pacific and Europe-Middle East markets. Not unlike the recently launched Model Y, the Model 3 “Highland” came with a number of interior and exterior upgrades in two configurations, before Tesla launched the highly-anticipated Performance trim in May.

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The National Highway Traffic Safety Administration (NHTSA) uses the term “recall” for the issue because, by definition, it is an “unreasonable safety risk or fails to meet minimum safety standards.”

It is worth noting that the NHTSA does recognize that it is a software update on its official website with a new badge that it recently started placing on these types of fixes.

However, the power steering issue is being resolved through an Over-the-Air software update, which will not require physical service from Tesla, and will be fixed through an internet connection.

The issue is impacting an estimated 376,241 Tesla Model 3 and Model Y vehicles operating software prior to 2023.38.4. The NHTSA writes on its website that:

“The printed circuit board for the electronic power steering assist may experience an overstress condition, causing a loss of power steering assist when the vehicle reaches a stop and then accelerates again.”

The agencies 573 report continues:

“By design, if the overstress condition occurs while the vehicle is traveling above 0 MPH, steering efforts will not be affected, and a visual alert will illuminate. Once the vehicle speed reaches 0 MPH, a loss of EPAS may occur, and loss of EPAS will persist when the vehicle is driven above 0 MPH. Manual steering without EPAS remains available to the driver.”

As of January 10, Tesla says it has received 3,012 warranty claims and 570 field reports relating to the issue, but it is not aware of any accidents or deaths due to the problem.

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Please email me with questions and comments at joey@teslarati.com. I’d love to chat! You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

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