We haven't seen any renders or heard any details yet, so I think first half of 2025 is either unrealistic or this will simply be a variant of an existing model. They also had to retool factories for the updated Model Y, and I assume they would have to do something similar for this vehicle.

There is (rumor) article from today here where they claim the low cost (affordable) vehicle is a "stripped down" model Y (at 20% price reduction):

https://www.investors.com/news/tesla-stock-affordable-ev-str...