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Elon Musk is jumping the gun once again.

A week after he teased the new CEO of Twitter before it was ready to be announced, he revealed that two new Tesla electric vehicles are in the works.

The billionaire executive discussed the upcoming car launches during the companys annual shareholders meeting this week. In fact, he claimed that Tesla is currently in the process of building out the product.

I just want to emphasize that we are actually building a new product, Musk told the shareholders. We are actually designing a new product. Were not sitting on our hands here.

He continued: The design of the products and the manufacturing techniques are head and shoulders above anything else that is present in the industry.

According to TechCrunch, a rendering of the new vehicle silhouette appeared on the screen behind Musk, giving the audience an official teaser for one of the upcoming carspossibly the $25,000 hatchback that Musk alluded to three years ago during thecompanys battery day.

Despite the news of the two new EVs that are in the works, Musk clarified that the purpose of the company meeting wasnt to focus on new products and a more official launch announcement will take place eventually.

While Musk didnt specify what he meant by the company already building the models, its likely theyre working on a prototype instead of a production-ready vehicle.

Elsewhere during the meeting, the Tesla CEO forecasted a year of mixed results due to things like an uncertain economy, mass bankruptcies, the new Cybertruck delivery, Roadster production delays and Teslas first ads.

As for his Twitter day-to-day, Musk recently made headlines when he announced that Linda Yaccarino would be the platforms new CEO while he transitions into being exec chair & CTO, overseeing product, software, and sysops.

Yaccarino will focus primarily on business operations, while I focus on product design & new technology, Musktweeted. Looking forward to working with Linda to transform this platform into X, the everything app.

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Elon Musk Just Teased Two New Tesla EVs - Robb Report