Tesla has long toyed with the idea of a more affordable EV below the Model 3. But a few months ago, Musk scuppered the concept. Now, a new report suggests it may still happen and Tesla’s entry-level EV could show as soon as next year.
Known within the company as “Model Q,” Tesla’s head of investor relations, Travis Axelrod, said recently that the $30,000 EV would debut early next year. It will be priced below $30,000 with subsidies, or around $US37,500 without.
The report from the Deutsche Bank stated that “The new Tesla model should launch in 1H25 and will be priced <$30k including subsidies”.
Evidently it will roll off the same production line as an existing model. That could also mean the newcomer is an entry-level variant of the Model 3 or Model Y. At present, both sell in the US in the mid$40k region. There’s a rumour of further price reductions for this pair too.
Tesla did say in October that the Cybercab would cost around the $30k mark or less. Whether that vehicle acts as the base for the new entry-level model is not known.
If it does go ahead, the Model Q’s battery pack will likely be 15 percent smaller and 30 percent lighter than the existing Model 3’s batteries (which are 53 and 75kWh).
And while we’re on the rumour mill, Tesla may be working on a proper three-row Model Y for China. This is a separate variant from the existing Model Y with additional third-row seats. Together, the pair of newcomers would increase Tesla’s production volume by 20 to 30 percent in 2025.
As to whether either happens, watch this space.
