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Musk says two new next-gen Tesla EV 'products' are in development

During a recent shareholders meeting, Elon Musk confirmed that Tesla is working on two new cars.

Donovan Erskine

May 17, 2023 6:55 AM

AP

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This week, Tesla (TSLA) held its annual shareholder meeting, where the EV company's investors and executives gathered to discuss the business's present and future. CEO Elon Musk was present at the event and spoke at length about what investors can expect from Tesla over the course of the next year. It was during the shareholder meeting that Elon Musk confirmed that Tesla is currently working on two new vehicles.

We clipped out a portion of Elon Musk’s talk at the latest Tesla shareholder meeting, where he announced the new vehicles. “People always want to know what our next product is,” Musk teased, getting the crowd excited before saying that a proper reveal would happen sometime down the road. However, he did reveal some of what Tesla has been up to. “We’re not sitting on our hands here… there are two new products that I think you’ll be very excited about.”

During the Tesla ( $TSLA) shareholder meeting, @elonmusk confirmed two new products are in development at the EV company. These two new products alone will probably total an "excess of 5 million units per year combined." pic.twitter.com/tUSrZaHbb6

— Shacknews (@shacknews) May 16, 2023

Musk also said that the design and manufacturing of these two new cars are “head and shoulders above anything else that is present in the industry. He also provided a prediction of what the production rate will look like, stating that Tesla will likely make 5 million combined units of the two models each year.

Elon Musk neglected to provide a name or price range of the two new vehicles, but those details will likely come down the road. Regardless, it’s interesting to know that Tesla is working on new vehicles and that a proper reveal is on the horizon. Last week, the company broke ground on a new lithium refinery in Texas. For more on Tesla’s latest business moves, stick with Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_