Tesla promises 'more affordable' cars after shelving all-new Model 2

Tesla Model 2

Tesla has shifted its focus from introducing an all-new Model 2 to unveiling new models by early 2025, promising more affordable cars and exciting prospects for investors. Despite missed expectations in its first-quarter results, Tesla's plans to roll out new offerings have sent its shares soaring, signaling optimism among investors. CEO Elon Musk has hinted at the introduction of cost-effective models, while also discussing ambitious visions for diversifying Tesla's business into artificial intelligence, humanoid robots, and autonomous vehicles. The announcement comes amidst challenges in the EV market and intense competition, but Tesla's strategic shift has sparked renewed interest and confidence among stakeholders.