Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk said on Tuesday that most of the engineering of its upcoming second-generation Roadster is completed and the company intends to start production in 2025.

What Happened: While most of the engineering is complete, there are some more updates the company intends to make on the vehicle, Musk added.

"It will be something special. Like the whole thing might be," the CEO said about the vehicle during the company's second-quarter earnings call.

The new Roadster is the successor to Tesla's first EV – the limited-production first-generation Roadster – produced between 2008 and 2012.

In February, Musk said that the upcoming Tesla Roadster can accelerate from 0 to 60 mph in less than 1 second, lower than the company's initial estimate of 1.9 seconds. Tesla's Model S Plaid, meanwhile, can achieve the same speed in 2.1 seconds.

"It would also obviously be ridiculous for the Roadster to achieve simply the same 0-60mph time as Model S, even though it is a 2-door fully performance-oriented vehicle," Musk later explained on X, formerly Twitter.

Why It Matters: The new Roadster, Musk said earlier this year, is expected to be unveiled by the end of 2024 after the completion of production design with deliveries slated to start in 2025. The vehicle relies on a collaboration between Musk's two companies- Tesla and rocket manufacturer SpaceX- to provide incredible performance, he added.

The new generation Roadster prototype was showcased at the end of the event dedicated to unveiling the Tesla Semi on November 16, 2017. The vehicle, Tesla then said, would be available starting in 2020 priced around $200,000.

However, the production timeline for the vehicle has been pushed several times since.

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