[Musk: Tesla's low-cost new vehicle development has made considerable progress] Tesla held a performance conference for the fourth quarter and full year of 2023 on January 24th local time. Musk revealed that Tesla has made significant progress in developing a new low-cost car. Musk provided almost no details about this car or its schedule, and he said the company will not discuss product releases during the performance conference call. Musk also stated that Tesla is "very excited about this car and its revolutionary manufacturing system.". He said that the system will be more advanced than other similar systems.