Although Musk didn't provide specific details about the new vehicles, he mentioned that Tesla is developing two products that he believes will generate over five million sales annually. He described both the design and manufacturing techniques of these upcoming models as superior to anything currently present in the industry.
“So, there are two new products that I think you’ll be very excited about. And both the design of the products and the manufacturing techniques are head and shoulders above anything else that is present in the industry.” Tesla’s CEO said during the presentation. “If I were to guess, just these two new products alone, we will probably make – obviously this is just, you know, Elon’s guess, so you know, don’t sue me – in excess of five million units a year of these two models combined.”
Based on Musk's remarks, it is reasonable to speculate that one of the vehicles he referred to is the highly anticipated refreshed Tesla Model 3, known internally as "Project Highland." The Model 3 update has been in development for almost a year, with the Texas Gigafactory undergoing modifications to accommodate the production of this new variant. Reports suggest that the updated Model 3 will feature a streamlined design with fewer overall parts.
Another potential candidate for Musk's undisclosed second product is the Cybertruck, an all-electric pickup truck that is already in the final stages of development. Tesla has been producing prototypes of the Cybertruck, and its commercial launch is planned for later this year. The Cybertruck is expected to employ innovative manufacturing techniques, including the use of two massive Giga Presses to cast large metal components, which could also be applied to the new Model 3 "Highland."
Additionally, Musk's reference to a "dedicated robotaxi" could indicate another potential product in the works, optimized for autonomous driving and set to enter production in 2024.
Source: Tesla