We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously
communicated start of production in the second half of 2025.
These new vehicles, including more affordable models, will utilize aspects of the next generation platform as well as
aspects of our current platforms, and will be able to be produced on the same manufacturing lines as our current vehicle
line-up.
This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our
vehicle volumes in a more capex efficient manner during uncertain times. This would help us fully utilize our current
expected maximum capacity of close to three million vehicles, enabling more than 50% growth over 2023 production
before investing in new manufacturing lines.
Our purpose-built robotaxi product will continue to pursue a revolutionary “unboxed” manufacturing strategy.