Tesla announced that it began producing the first units of a more affordable vehicle model in June 2025, with volume production planned for the second half of the year. The company reaffirmed that the new affordable models, including the anticipated Model Q, are on track for launch in the fourth quarter of 2025. This update was provided amid Tesla's report of its steepest quarterly revenue decline in over a decade, attributed to strong competition and backlash related to CEO Elon Musk's views. Tesla also continues development of its Semi and Cybercab models, both slated for volume production in the near future.