ROAD READY
Elon Musk confirms Tesla Roadster will be released next year and teases lower prices in earnings call despite sales dip
The CEO balked at providing more information on the Cybertruck's potential sibling vehicles
ELON Musk has confirmed that Tesla hopes to launch the long-awaited Roadster and a lower-cost electric vehicle by next year.
Tesla's CEO said the company has maintained a sharp focus on self-driving technology during a sales dip.
4
4
4
On the company's July 23 earnings call, Musk said Tesla would wait for future launch events to announce new products.
Still, the CEO dangled a few teasers for upcoming fan-favorite vehicles.
The CEO said drivers should look forward to a Tesla Roadster and a "lower cost" vehicle by 2025 while pushing back against questions about unveiling a series under the Cyber brand.
Tesla fans have waited for the Roadster's rebirth for years.
The company's first production vehicles in 2012 were Roadsters.
The two-seater sports car was largely responsible for providing the company with a performance-ready brand identity.
Tesla's initial cars rebadged the luxury two-seater Lotus Elise and added a high-powered, Tesla-built battery to the car's underbelly.
The new Roadster will likely be a sleeker version of the initial EV. Musk has continuously promised a revival of the car in several interviews.
Most read in Motors
Musk also said the company would launch a "lower-cost" vehicle by next year but didn't discuss the product's details further.
The CEO promised a $25,000 vehicle for years, but several reports suggested the company put the vehicle on the back burner while focusing its efforts on self-driving technology.
Watch moment a Tesla confuses a wall for a person while driving through Elon Musk's 'highspeed' tunnels under Las Vegas
During the questions section of the earnings call, an emailer asked Musk if the headling-grabbing Cybertruck would get a sibling SUV and van.
The Tesla CEO said details on a Cyber series of cars would have to wait for later product launches.
Musk has a long history of promising product launches and then missing the self-imposed deadlines.
The company's Cybertruck hit the market years after the CEO said it would, while the $25,000 EV has been promised for years.
Potential Roadster specs
Tesla has teased the Roadster for years. Here is what the company is promising:
Musk said the two-door electric sports car will enter the market in 2025.
Previously, Tesla announced some eye-watering performance numbers for the potential car.
Tesla said the car will have a zero to 60 mph spring under two seconds. It would also have a top speed of 250 mph.
The company's engineers also promised 620 miles of battery range.
The sporty design in previous concepts included clean body sculpting with a lightweight glass roof.
Tesla also promised the roof could be removed and placed in the trunk.
INSIDE THE COMPANY'S NUMBERS
Tesla's sales slumped farther below Wall Street expectations for the second straight quarter.
The company produced a net income of $1.48 billion in the quarter, down 45%.
Tesla used incentives, including subsidized financing deals, to lure in more consumers to the brand.
The price cuts dug into the company's bottom line, Tesla reported.
Tesla remains the largest EV maker by a large margin - however, other manufacturers like Ford, Hyundai, and Kia continue to carve into Tesla's market dominance.
Other EV carmakers' sales have jumped 33% year over year, while Tesla's has dropped 9%.
However, there are still giant glimmers of hope around the EV brand.
READ MORE SUN STORIES
The company still maintains a giant lead on charging infrastructure with its massive Supercharger network.
The EV charging stations are expected to bring Tesla continued revenue after the initial vehicle sale.
4