While Tesla’s vehicle production growth rate diminishes, the company plans to produce a much affordable car in 2025

ELON Musk has been called delusional after Tesla announced its vehicle production growth rate is projected to drop in 2024.

Tesla’s announcement follows the company’s stocks plummeting after the EV giant’s reported Q4 earnings missed estimates.

Tesla announced that the company’s vehicle growth rate is projected to be notably lower than what was achieved in 2023Credit: Getty

With the news of a lower growth rate in 2024, Musk announced that Tesla is on track to produce a new more affordable car in 2025Credit: Getty
A press release shared on Wednesday stated that the company’s “vehicle volume growth rate may be notably lower than the growth rate achieved in 2023.”

This indicates that the company would not reach estimates of 2.19 million for 2024, per Yahoo Business.

As the news came about, Kawasaki Wealth and Investment Management President and CEO Ross Gerber shared some words he had for Tesla CEO Elon Musk.

The longtime shareholder of Tesla noted that many of his clients sold their Tesla stock, stating that it was a good decision as the “stock is much lower” than it was before.

“And what he’s basically saying is: I want you to give me like $30 to $50 billion [more] of compensation for me to do my fiduciary responsibility to the company.

“So there’s never been a more delusional CEO that I’ve ever invested with… It’s crazy, like $50 billion isn’t enough to motivate somebody?”

While Tesla’s vehicle production growth rate is projected to decrease in 2024, Musk noted that the company is set to start production on a next-gen vehicle in the second half of 2025.

“We are focused on bringing the next-generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas. This platform will revolutionize how vehicles are manufactured,” Tesla said on an earnings call, per Yahoo Business.

“We’re very far along on our next-gen low-cost vehicle; we’re really excited about this. This is a revolutionary manufacturing system, far more advanced than any other in the world,” Musk said on the call.

As of now, Tesla’s cheapest vehicle is the Model 3 sedan with a starting price of $38,990.