Tesla, which popularized the high-end electric car, now wants to reach a wider audience. According to a report from Deutsche Bank, the manufacturer is working on a new compact car, tentatively named “Model Q”. Its Price? Less than $30,000, with grants. Such an announcement would mark a strategic shift for the automaker, which seeks to attract more budget-conscious consumers.
The low-cost Tesla sea serpent
The project was reportedly presented during a meeting with investors, but Tesla remains discreet. Asked about this, the Chinese branch of the company replied that it had “not no information to share on the Model Q “. However, the clues are piling up. This vehicle would be part of a global effort by the company to reduce manufacturing costs, in particular through the use of existing production lines. Good news for the company, which will be able to avoid heavy investments in infrastructure.
With this competitive price, the “Model Q” would directly target models like the Volkswagen ID.3 or the BYD Dolphin, already well established in the affordable electric vehicle segment. According to the first leaks, this model would be around 15% smaller and 30% lighter than the Model 3. It would also integrate autonomous driving features, while remaining minimalist in its design.
But offering a vehicle at such a competitive price will not be without compromise. Reducing the size of the battery, simplifying the interior or opting for less expensive materials are all options being considered to reduce costs. Tesla could also rely on reduced configurations, such as a two-seater model, to attract urban customers.
Tesla’s objective is clear: to deliver this model by 2025, a year that promises to be busy for the company. In addition to the “Model Q”, the brand is also planning a three-row seat version of its Model Y for the Chinese market. And if Tesla has already become known for its delays, the fact that this project relies on existing infrastructure could work in its favor. It remains to be seen whether the company can deliver on its promises and meet deadlines, an area where it has often stumbled.
This note and these forecasts from Deutsche Bank, however, conflict with the statements of Elon Musk who, questioned during the third quarter results, had affirmed that Tesla would not make an affordable vehicle that was not a robotaxi. In October, the manufacturer presented its Cybercab, a $25,000 vehicle without steering wheel or pedals which must overcome numerous technical and regulatory obstacles before being able to drive in total autonomy.
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