Following reports in the Chinese media about Tesla’s upcoming entry-level electric vehicle (EV), a reporter writes The Wall Street Journal has shared some key details gleaned from an investor report.
Reporter Becky Peterson shared this X (formerly Twitter) details obtained from a Deutsche Bank report of the institution’s Autonomous Driving Day on December 5, which was attended by Tesla’s head of investor relations Travis Axelrod.
According to Ms. Peterson, Deutsche Bank calls the vehicle Model Q.
It will reportedly be built on Tesla’s existing lines and will launch in the first half of 2025 with a price tag of less than US$30,000 (A$47,000), including subsidies.
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I received a copy of the Deutsche Bank report.
This is what it does say:
1. @travisraxelrod met DB for the Autonomous Driving Day on December 5 in New York.
2. DB describes “the new Tesla model” which it calls “Model Q”.
3. DB says it will launch in the first half of 2025, and…— Becky Peterson (@beckpeterson) December 9, 2024
Should incoming US President Donald Trump scrap the country’s EV tax credit, it will reportedly cost US$37,499 ($58,780) instead.
The US market Model 3 range currently opens at $34,990 (A$54,850) for the Long Range RWD, including the $7500 (A$11,760) federal tax credit for electric vehicles.
However, Tesla earlier this year canceled the Model 3 Standard Range RWD in the US, which had a cheaper initial price of US$40,630 (A$63,690) but was no longer eligible for the tax credit due to the Chinese-sourced battery.
Ms. Peterson draws a distinction between the claimed Model Q and the vehicle reportedly internally referred to by Tesla as the “Redwood.”
The latter was reportedly a separate entry-level model on a new platform that company CEO Elon Musk axed to focus on the upcoming autonomous Cybercab, which was unveiled this year and will enter production in 2026.
The Model Q could therefore be a cost-effective version of the Model 3 or Model Y, built in California or Texas, possibly with smaller batteries and less equipment.
Mexican production appears to be at a low ebb thanks to newly elected President Donald Trump’s threat of tariffs on Mexican-built vehicles.
Indoor EVs also claims to have seen the report, which notes that Tesla is planning a three-row, long-wheelbase version of its Model Y for Chinese production. Previous Chinese media reports have indicated that Tesla was working on a more family-friendly version of its Model Y.
Tesla is said to have predicted to Deutsche Bank that its new models would increase its sales volumes by 20 to 30 percent in the coming year.
Although the company now only sells the Model 3 and Model Y in Australia, it still offers the Model S and Model X in left-hand drive markets.
Moreover, it launched the Cybertruck in the US in 2023.
