Following reports in Chinese media about Tesla’s upcoming entry-level electric vehicle (EV), a reporter for The Wall Street Journal has shared some key details obtained from an investor report.
Reporter Becky Peterson shared on X (formerly Twitter) details obtained from a Deutsche Bank report from 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 refers to the vehicle as the Model Q.
It’ll reportedly be built on Tesla’s existing lines, and will be launched during the first half of 2025 with a price tag of under US$30,000 (A$47,000) including subsidies.
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I got a copy of the Deutsche Bank report.
— Becky Peterson (@beckpeterson) December 9, 2024
Here’s what it does say:
1. @travisraxelrod met with DB for its Autonomous Driving Day on December 5 in NYC.
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…
Should incoming US President Donald Trump scrap the nation’s EV tax credit, it’ll reportedly instead cost US$37,499 (A$58,780).
The US-market Model 3 range currently opens at US$34,990 (A$54,850) for the Long Range RWD, including the US$7500 (A$11,760) federal tax credit for EVs.
However, Tesla earlier this year axed the Model 3 Standard Range RWD in the US which had a cheaper initial price of US$40,630 (A$63,690), but no longer qualified for the tax credit due to its Chinese-sourced battery.
Ms Peterson draws a distinction between the claimed Model Q and the vehicle reportedly referred to by Tesla internally as the ‘Redwood’.
The latter was reportedly a separate entry-level model on a new platform which company CEO Elon Musk scrapped to focus on the upcoming autonomous Cybercab, which was revealed this year and is set to enter production in 2026.
Model 3
The Model Q therefore could be a cost-cut version of the Model 3 or Model Y, built in either California or Texas, potentially with smaller batteries and fewer accoutrements.
Mexican production appears to be on the back-burner thanks to President-elect Donald Trump’s threat of tariffs on Mexican-built vehicles.
InsideEVs also claims to have seen the report, which makes note of Tesla planning a long-wheelbase three-row version of its Model Y for Chinese production. Previous Chinese media reports have indicated Tesla was working on a more family-friendly version of its Model Y.
Tesla reportedly projected to Deutsche Bank that its new models would increase its sales volumes by 20-30 per cent over the next year.
While the company now sells only the Model 3 and Model Y in Australia, in left-hand drive markets it still offers the Model S and Model X.
Additionally, it launched the Cybertruck in the US in 2023.
