Replace 7:37 p.m. ET: The Wall Road Journal’s Becky Peterson studies having a replica of Deutsche Financial institution’s report. Right here’s what she stated:
“I bought a replica of the Deutsche Financial institution report. Right here’s what it does say: 1. Travis Axelrod met with DB for its Autonomous Driving Day on December 5 in NYC. 2. DB describes “the brand new Tesla mannequin” which it calls “Mannequin Q”. 3. DB says it should launch within the first half of 2025, and can price lower than $30k with subsidies, or $37,499 if Trump cancels the IRA tax credit score. 4. DB says will probably be constructed on Tesla’s present strains.
The report doesn’t say something about Redwood, the inner code identify for a mass market car, constructed on a brand new platform, which Musk paused earlier this yr. It additionally doesn’t say something concerning the measurement or price, or the way it would possibly differ from a Mannequin 3.
A few extra factors of context: Tesla advised buyers on its Q3 earnings name that its plans to ship a extra reasonably priced mannequin in H1 2025. They stated that to do this it should decrease the worth of its present line up after which ultimately promote robotaxis. When requested a couple of non-robotaxi, $25,000 automotive Musk stated: ‘We’re not making a non-robo…’”
We are able to encapsulate that the Mannequin Q is Deutsche Financial institution’s identify for the car, not Tesla’s. Mannequin Q continues to be a label utilized by these exterior of Tesla.
Paragraph 5 has additionally been up to date for accuracy as Tesla China has now appeared to have commented on the Mannequin Q report.
Tesla is reportedly planning to launch the reasonably priced Mannequin Q within the first half of subsequent yr, an enormous growth to the corporate’s plans because it goals to supply a less expensive automotive that can assist develop its annual progress price.
One in all Tesla’s plans shifting previous 2024 was to launch a brand new platform that can allow cheaper fashions, bringing the automobiles to a brand new demographic and maybe increasing gross sales for years to come back.
Rumors of the Mannequin Q, Mannequin 2, and others have floated round the neighborhood for a really very long time, however now it appears we have now some substance with a brand new report out of China.
In line with a report from Globalchinaev, Tesla introduced throughout an investor assembly with Deutsche Financial institution that it has plans to launch the Mannequin Q for lower than $30,000, aiming to compete with automobiles just like the BYD Dolphin and Volkswagen ID.3.
Earlier at present, Tesla China stated it had “no info to share concerning the Mannequin Q,” by way of MKTnews.web.
Tesla stated early this yr that buyers ought to anticipate a decrease progress price in 2024 due to the corporate’s deal with the next-generation platform that may deliver extra reasonably priced automobiles.
Tesla’s next-generation platform may imply ‘notably’ decrease progress price in 2024
It additionally stated on a couple of event that it plans to deliver reasonably priced fashions to market within the first half of 2025.
Each of these items would align with the report, which particulars the car as a part of the rumored “Challenge Redwood” that we reported on throughout January of this yr.
The report says the car might be 15 p.c smaller and 30 p.c lighter than the Mannequin 3, bringing a extra compact car to the Tesla lineup. With Tesla additionally specializing in the Robotaxi and its Full Self-Driving efforts, this car will doubtless be as minimalist as potential.
It can characteristic a steering wheel and pedals in the intervening time, however might be geared towards autonomous driving performance.
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