Tesla is working on an all-new, next-generation vehicle platform, which is expected to be ready in the not-too-distant future.

According to the company's Q4 and full-year 2022 financial report, the new platform is currently under development and we will be able to learn more about it at the upcoming Investor Day event, on March 1, 2023.

"Our next generation vehicle platform is under development, with additional details to be shared at Investor Day (March 1st 2023)."

Not much is known about Tesla's next-generation platform, although according to the previous reports (in October 2022, and earlier this month), it's envisioned for electric cars smaller in size than the Model 3/Model Y. Additionally, the platform is expected to bring a step change in vehicle cost (cut it in half). According to Tesla CEO Elon Musk, EVs based on the new platform would be produced at a volume higher than all other vehicles combined.

This leaves a lot for speculation - whether we are talking about a sub-compact, entry-level electric model for the masses (aka "£20,000 Tesla car") or maybe a stripped-down robotaxi (a very simple, automatic transportation device).

Historically, Tesla had several mostly independent projects:

Some of the vehicles listed above share parts and systems, but as we understand, the third generation would be for a new set of electric cars - smaller and more affordable - than the Tesla Model 3/Model Y.

To achieve a reduction of cost as high as 50% (undefined in details, but probably related to hardware/production), Tesla would probably have to apply many new technologies to simplify everything possible. Another thing would be the production of millions of units annually.

Let's also note that a new platform is one thing, while the development of vehicles based on it is another thing. Tesla is silent about the new electric car/cars.

Time will tell what is in the works, but in general, it's always positive news that electric cars will be less expensive - maybe even cheaper than petrol cars (hopefully).