Tesla, Inc. (NASDAQ:TSLA) on Tuesday unveiled that the price of its new Model Y would be set below $40,000, sparking interest among investors and consumers.
Model Y
The company’s announcement coincides with the release of a new version of its supervised self-driving technology, further fueling anticipation in the electric vehicle market, according to CNBC.
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Excitement reached a fever pitch over the weekend when Tesla teased a mysterious spinning part emblazoned with its logo, leaving followers guessing whether it was a fan, wheel cover, or something entirely unexpected.
The cryptic video concluded with "10/7," pointing to a reveal date. Another teaser followed, showing the silhouette of headlights glowing in the dark, boosting online speculation.
Investor attention quickly translated into financial momentum. Tesla's stock surged by 5% on Monday, reflecting hopes for a budget version of the Model Y and curiosity about updates on the next-generation Roadster—a model CEO Elon Musk has discussed for years, but has yet to deliver.
The new Model Y, priced at $39,990, marks the first new addition to Tesla’s lineup since the introduction of the Cybertruck, the brand's distinctive steel pickup truck, which launched in late 2023.
Despite much marketing fanfare, the Cybertruck stumbled at its unveiling event in 2019 due to a broken window demonstration and failed to capture the mass appeal of the Model 3 or Model Y. It has also faced several voluntary recalls in the U.S.
Optimus
Tesla's ambitions also extend to humanoid robots, with Musk touting future factory helpers and household assistants.
Still, the Optimus robot has yet to go on sale, while competitors have already launched their bipedal robots.
The company's stock, after slumping 36% in the year's first quarter, rebounded sharply and climbed 40% in the third quarter, partly thanks to Musk purchasing $1 billion in Tesla shares.
Tesla stock is now up 9% in 2025.
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