Tesla has plans for a new mass-market electric vehicle codenamed'Redwood' in mid-2025 that would start at 25,000 - making it the cheapest EV available. The Elon Musk-owned company allegedly sent request quotes to suppliers last year, projecting a weekly production of 10,000 compact crossovers when production starts in June 2025, according to a new report. The billionaire promised in 2020 that customers would get a cheaper electric vehicle - and'Redwood' could be part of that plan. The move may be Musk's strategy to attract more buyers, as Tesla's cheapest model - the Model 3 - at 43,900 saw a 15 percent decrease in sales last year compared to 2022. Tesla may have plans for a new mass-market electric vehicle codenamed'Redwood' in mid-2025 that would start at 25,000 - making it the cheapest EV available.