Tesla is planning to produce a smaller and more affordable electric vehicle called the 'Model 2,' CEO Elon Musk revealed in a meeting with shareholders shortly after the Cybertruck launch event this past week. Production of the Model 2 could begin as soon as 2024 and it will be mass produced in Tesla's factory located in Texas. The Model 2 is expected to be smaller and less expensive than Tesla's current models like the Model 3 and Model Y. The announcement of the Model 2 production plans caused Tesla's stock price to rise, with investors seeing potential for higher sales with a more affordable EV.
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00:00 It's Benzinga and here's what's on the block.
00:03 Tesla is planning to produce a smaller and more affordable electric vehicle called the
00:08 Model 2, CEO Elon Musk revealed in a meeting with shareholders shortly after the Cybertruck
00:15 launched the event this past week.
00:18 Production of the Model 2 could begin as soon as 2024 and it will be mass-produced in Tesla's
00:26 factory located in Texas.
00:28 The Model 2 is expected to be smaller and less expensive than Tesla's current models
00:34 like the Model 3 and the Model Y.
00:37 The announcement of the Model 2 production plans caused Tesla's stock price to rise
00:43 and investors are seeing more potential for higher sales with a more affordable EV.
00:49 For all things money, visit Benzinga.com.
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