Tesla has been focusing on creating a dirt-cheap EV to demonstrate that electric vehicles don’t need to be expensive. The company has been rumored to build a smaller car than the Model 3 sedan and Model Y crossover SUV to drive the price down to around $25k. Recently, Tesla teased its next-gen compact EV during the Annual Shareholder Meeting and hinted that it wants two of its electric models to combine more than 5 million units of annual production.  

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