"Tesla to Launch New Low-Cost Electric Vehicle Model in 2025"

Tesla plans to start production of its next-generation electric vehicle at its Texas factory in the second half of 2025, with CEO Elon Musk acknowledging the challenges of ramping up production. The company warned of a sharp slowdown in sales growth this year before the new model launch and expects lower sales growth as it focuses on the new vehicle. Tesla's gross margin declined, and it faces increasing competition from Chinese EV makers. Musk also hinted at potential price cuts and stated that margins will depend on how fast interest rates fall.