Tesla Will Announce Its Third Generation Vehicle Platform in March

Tesla will announce its third generation vehicle platform at its Investor Day event in March

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Tesla's worth in the stock market plummeted to end 2022 and to start 2023; it posted lower-than-expected deliveries. There are no doubts that investors are uncertain, which may be why the company announced its first-ever Investor Day. The event will take place on March 1, 2023, and the company provided a few tidbits of what to expect, including the generation three platform.

Generation 3 Platform

Picking up where Elon Musk left the third quarter earnings call, Tesla is ready to announce plans for the next phase of the company's production. During the call in October, Musk said, "we don't want to talk exact dates, but this is the primary focus of our new vehicle development team, obviously. At this point, we've done the engineering for Cybertrucks and Semi. So, it's obviously what we're working on, which is the next-generation vehicle."

The CEO also revealed that the engineers were tasked with a two-for-one target, including cutting costs and production times. Musk added, "we're twice the output. And we do believe this can be done."

What's the Next Tesla Product?

During the Semi delivery event on December 1, 2022, there was a slide titled: Covering Major Forms of Terrestrial Transport. The slide included Models S, 3, X, Y, Semi, Cybertruck and Robotaxi. Robotaxi also appeared in the second quarter earnings report indicating that it was 'in development.'

However, there is speculation that the third generation could be the most affordable Tesla yet. The number most often heard is $25,000, which, if true, would be a game changer by removing the most significant barrier for many people who want to own an electric vehicle.

Musk said, "It will be smaller, to be clear. But it will, I think, certainly become, certainly exceed the production of all our other vehicles combined." That would be music to investors' ears.

Making things even more interesting, Tesla's Chief Designer, Franz von Holzhausen, was recently asked to name his favorite model. He responded, "my favorite one is the one that is coming. I can't talk about (it)." I speculated the sports car fan who grew up in the wedge era and had posters of Lamborghini Countachs on his wall must've been referring to the next Roadster. But von Holzhausen also talked about how cool it is to see Teslas everywhere; perhaps he is excited to see a more affordable Tesla hit the market.

According to the short news release Tesla sent out announcing Investor Day, the company will also discuss long-term expansion plans, capital allocation and other subjects. However, Tesla's earnings call is scheduled for January 25, and we will get more information, or yet another tease, of what is next for the company.

Tesla Teases New 7-Seat Model Y

The third row in the first-generation Model Y

Not a Tesla App

In a move that’s sure to excite those with larger families, Tesla has started teasing the return of the seven-seat configuration for the Model Y. In a new marketing email sent out to customers recently, Tesla explicitly highlights the vehicle’s spaciousness.

“Ready for anything with long range, seating for up to seven, and enough room for everyone’s gear.”

The seven-seat Model Y was initially offered in late 2021, but it hasn’t been available since Spring 2023. The return of the new variant will be an addition that many have been waiting for, as the next vehicle with that much passenger space in the line-up is the Model X, starting at almost double the price.

First-Gen Model Y Third Row

The original seven-seat Model Y was extremely popular in the Asia-Pacific and European markets, and it still sold fairly well in North America despite differences in preferred vehicle sizing and spaciousness. It offers additional seats for larger families with young children, but space in the third row is minimal.

The seven-seat variant makes the Model Y more competitive against other three-row SUVs on the market. The video below features the seven-seater, first-generation Model Y.

Power Reclining Third Row?

The refreshed Model Y was launched with power-reclining second-row seats, a huge plus for practicality and ease of use. The power-reclining second-row seats are extremely popular with families and are very helpful, as you can control them from the front screen rather than needing to open the rear doors.

Tesla is likely to integrate power-reclining seats into the third row and potentially keep them for the second row as well. With the second row sliding forward and backward for easy entry, as well as allowing the second and third rows to fold flat for additional cargo room when needed.

Launch Date and Price

Tesla’s tease of the seven-seat variant is likely just the start. With recent sightings of the Model Y Performance variant hitting the Nürburgring, it seems Tesla has a lot in store for this summer. If you’ve been waiting for the seven-seat variant, it seems like it’ll be just a few short months away at this rate.

While we haven’t seen any production samples or other details regarding dates yet, Tesla previously priced the seven-seat option at an additional $2,000 USD ($3,000 CAD). The seven-seat option will likely only be available on the Long Range AWD and Long Range RWD variants, not the Performance model, similar to the first-generation Model Y.

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Tesla’s First Autonomous Vehicle Delivery to Happen on June 28th

Not a Tesla App

In Elon’s flurry of posts on X about FSD yesterday, he also revealed the date that another moment of peak science fiction would be occurring — June 28th. Tesla expects to conduct the first-ever self-delivery, where a brand-new Model Y will depart from the production line and arrive directly at its new owner’s home without any human intervention.

Imagine ordering a vehicle, and a few days later, rather than needing to pick it up, it simply arrives in your driveway and notifies you via an app that it has arrived. That’s no longer the talk of science fiction; it is quite literally something that is likely to happen this month.

Expect a Model Y Delivery in Austin

Considering everything Tesla has done so far, we’re fairly certain that the first self-delivered vehicle will be a Model Y in Austin, in the same geo-fenced area where Tesla’s Robotaxi will operate. FSD is highly optimized for the Model Y, and it’ll take some time for those optimizations to trickle down to the rest of the fleet. It’s not clear if FSD performs better on the Model Y because it’s the most popular vehicle and, therefore, Tesla has the most data for it or if Tesla explicitly chose to focus more on their most popular vehicle.

Tentatively, June 22.

We are being super paranoid about safety, so the date could shift.

First Tesla that drives itself from factory end of line all the way to a customer house is June 28.

— Elon Musk (@elonmusk) June 11, 2025

Why Self-Delivery?

While a car driving itself is something truly different from what other manufacturers offer, there are also numerous strategic advantages for Tesla to do so. This includes drastically reducing last-mile delivery costs by minimizing the need for car carriers, delivery drivers, and even delivery personnel at your local Tesla center. For customers, it could mean a faster, more flexible delivery method - and one absolutely unforgettable welcome to Tesla ownership.

We recently took a closer look at the advantages and disadvantages of vehicles delivering themselves to customers. While it’s all positive for Tesla, there are some potentially negative sides to it as well.

A Futuristic Glimpse

When you step back and look at it, Self-Delivery is a logical extension of Unsupervised FSD and the Robotaxi network in general. Self-deliveries are expected to run on the same software stack that powers the Model Ys currently roaming Austin’s streets autonomously, which means there is little for Tesla to do other than enable specific instructions for self-delivery during the final vehicle configuration steps.

Robotaxis currently run a newer version of FSD than what’s available to the public, but these self-delivered vehicles will likely be on the same version when they’re delivered.

Given Elon’s note that the dates could shift, this could easily be moved to early July; however, either way, it seems like we’re just weeks away from this monumental event, which will further reduce the cost of Tesla vehicles.

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