Tesla Inc (NASDAQ:TSLA) has dropped hints about an upcoming event on October 7, where the electric vehicle manufacturer is expected to unveil a new product.
The company shared two brief videos on the social media platform X—one showing a spinning wheel or turbine, and the other highlighting a vehicle’s illuminated headlights—both featuring the date October 7.
The teaser arrives as attention grows on Tesla potentially introducing a more affordable model, amid challenges such as slowing sales, an aging vehicle lineup, and intensified competition from Chinese automakers.
Although Tesla reported record deliveries for the September quarter last week, much of the surge was attributed to buyers taking advantage of expiring U.S. EV tax credits. The company now faces mounting sales pressure in the upcoming quarters.
Tesla is also encountering stronger competition in Europe and China, where local manufacturers are increasingly challenging the automaker. China’s BYD Co (USOTC:BYDDY) has emerged as a significant rival, surpassing Tesla in sales in several markets outside the U.S.
CEO Elon Musk has consistently emphasized self-driving technology, artificial intelligence, and robotics as key areas for the company’s next phase of growth.
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