Tesla CEO Elon Musk (Elon Musk ) revealed new details about the company's upcoming car during the company's third quarter 2022 earnings call.
When asked about any potential developments for the next generation of cars, CEO Elon Musk said it would be smaller than Model 3/Y, and cost about half of it. Elon Musk emphasized: "I think its sales will definitely exceed the sum of all other vehicles!"
According to CEO Elon Musk , the release date of the next generation model is still unknown and is currently the main focus of the new car development team.
Currently, the Model 3 produced in Tesla Shanghai Super Factory starts at 290,988 yuan. If the cost is halved, the price of the new generation of models may drop below 150,000 yuan.
Once this model is released for mass production, it is expected to gain more expansion space in the low-end electric car consumer market. Currently, the market is mainly dominated by local electric car manufacturers such as Volkswagen , Xpeng ( Xiaopeng ) and BYD .
According to the latest financial report, Tesla's automobile business revenue was US$18.69 billion, and increased by 55% year-on-year. The revenue costs of the company's core automotive business rose from $10.52 billion in the second quarter to $13.48 billion in the quarter, consistent with the increase in auto sales.
The company previously reported that delivery volumes reached 343,000 units in the quarter ended September 30, and automobile production reached 365,000 units.
According to data from the China Automobile and Passenger Car Association (CPCA), in September alone, it delivered 83 from the Shanghai Super Factory, 135 cars . That's an 8% increase from August, surpassing the record of 77,938 delivery in June.
On the earnings call, Elon Musk revealed that the company may conduct a "meaningful buyback" next year, possibly between $5 billion and $10 billion, and is currently awaiting approval from the board of directors.
Tesla also said optimistically, "I think we can be far more than the current market value of Apple . In fact, I think the potential value of Tesla is more valuable than the sum of Apple and Saudi Aramco ( Saudi Arabian National Oil Company ), but that doesn't mean it will happen or will happen easily."
