Tesla CEO Elon Musk aims to produce a budget-friendly electric car by 2025.

The new vehicle may be a crossover or hatchback with design influences from the Cybertruck.

Musk's vision includes leading a global shift to eliminate fossil fuels in favor of sustainable energy.

Tesla focuses on cutting battery costs to offer the new electric car at approximately $25,000.

Competition targets include gasoline vehicles and low-cost Chinese manufacturers such as BYD.

Musk's production strategy involves intense employee work protocols at the Gigafactory Texas.

The project 'Redwood' targets a production rate of 10,000 vehicles per week.