Tesla has been very secretive about the “more affordable models” that it intends to start producing in the first half of 2025, but the company does seem to be quite busy testing something interesting in the Giga Texas complex. This was, at least, as per recent aerial footage from a longtime Giga Texas watcher.

The recent footage featured an apparent test car that looks very similar to a vehicle that was spotted in the Fremont Factory last month. 

New Giga Texas Sighting

In a post on X, longtime Giga Texas watcher and drone operator Joe Tegtmeyer noted that he recently spotted a rather unique test car in the factory complex. The vehicle was under a car cover, but it was evidently missing its body panels and roof. Interestingly enough, it seemed to be shaped like a Model Y (it even had Model Y wheels), though it looked a bit more compact than another Model Y that was parked next to it.

Interestingly enough, a rather similar test car was spotted at another Tesla plant, the Fremont Factory in California, last month. Tesla watcher Met God in Wilderness, who has been posting aerial videos of the Fremont Factory for years, shared some footage from a drone flyover in mid-April. One of the vehicles captured in the flyover was an apparent test car that was parked next to fully-built Model Y and Model S vehicles. The test car in this sighting also looked like a compact crossover, and it was also missing its roof and body panels. 

Tesla’s Affordable Cars

In the Q1 2025 Update Letter, Tesla noted that “plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.” In the Q1 earnings call, Tesla VP of Vehicle Engineering Lars Moravy stated that Tesla’s affordable cars would resemble the company’s existing vehicles, though they will be more affordable.

These comments suggested that Tesla’s affordable cars, which have been informally dubbed by the EV community as the “Model 2 or Model Q,” will look a lot like its two mass market vehicles, the Model 3 sedan and the Model Y crossover. “Models that come out in the next months will be built on our lines and will resemble, in form and shape, the cars we currently make. And the key is that they’ll be affordable, and you’ll be able to buy one,” Moray stated.

A planning note reported viewed by Reuters has indicated that Tesla CEO Elon Musk has been invited to a Saudi-U.S. investment forum in Riyadh, the capital of Saudi Arabia. The event is expected to be held on Tuesday.

Musk’s reported invitation comes on the sidelines of United States President Donald Trump’s visit to the Middle East.

Musk’s Invitation

As per Reuters, the upcoming investment forum is expected to be attended by some of the most distinguished people in the investment world. These include the CEOs of high-profile companies such as Blackrock, Citigroup, IBM, Boeing, Delta Airlines, American Airlines, and United Airlines, among others, the publication noted. 

Considering the other attendees of the event, Elon Musk would likely fit right thanks to his leadership of companies like Tesla, SpaceX, and xAI, as well as his close ties with the Trump administration through his work at the Department of Government Efficiency (DOGE).

Musk and Saudi Arabia

Elon Musk’s relationship with Riyadh have notably improved since the start of Trump’s second term as United States president. Highlighting this improvement was Tesla’s launch in Saudi, which was held in April. Tesla’s launch was a notable event based on videos posted of the occasion, with the company showcasing some of its most exciting products, including Optimus, the Cybertruck, and the Cybercab, its self-driving robotaxi.

Tesla’s launch in Saudi Arabia, as well as his reported invitation to the upcoming investment forum, suggests that the CEO’s feud with Yasir Al Rumayyan, head of the $925 billion Public Investment Fund, has ended. The PIF Head was among the people involved in Elon Musk’s infamous “funding secured” tweet in 2018, which resulted in hefty fines and his removal as Tesla’s Board Chair. The PIF also sold its Tesla holdings and invested in another EV company, Lucid Group Inc.

Tesla shares (NASDAQ:TSLA) are on a tear on Monday’s premarket amidst reports that the United States and China have agreed to significantly roll back tariffs on each other’s goods for an initial 90-day period.

As of writing, the premarket price of TSLA shares suggests that the electric vehicle maker might end Monday with a $1 trillion valuation once more.

Tesla and China

TSLA stock was up about 8% at $322.56 per share on Monday’s premarket. As noted in a report from Barron’s, these prices suggest that the company could achieve a trillion-dollar valuation again, a level not seen since late February. Similar to Tesla, the S&P 500 and the Dow Jones Industrial Average were also up 2.8% and 2.1%, respectively, on Monday’s premarket.

The United States and China’s decision to roll back its tariffs would likely be appreciated by CEO Elon Musk. Despite working for the Trump administration’s Department of Government Efficiency (DOGE), and despite Tesla being least affected by the Trump administration’s tariffs due to its strong domestic supply chains in the United States, China, and Europe, Musk has noted that he is a supporter of non-predatory tariffs.

The United States and China’s Agreement

In a joint statement from the United States and China posted on the White House’s official website, the two countries agreed to lower reciprocal tariffs on each other by 115% for 90 days. This means that the United States will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, as noted in an ABC 12 report. China, on the other hand, will also lower its tariffs on American goods from 125% to 10%.

The talks were led by Chinese Vice Premier He Lifeng and Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, as per the joint statement. Bessent shared his thoughts about the matter in a comment in Geneva. “The consensus from both delegations is neither side wants to be decoupled, and what have occurred with these very high tariffs … was an equivalent of an embargo, and neither side wants that. We do want trade. We want more balance in trade. And I think both sides are committed to achieving that,” he said. 

A spokesperson from China’s Commerce Ministry also shared a statement about the matter. As per the spokesperson, the deal was an “important step by both sides to resolve differences through equal-footing dialogue and consultation, laying the groundwork and creating conditions for further bridging gaps and deepening cooperation.”