Replace 7:37 p.m. ET: The Wall Avenue Journal’s Becky Peterson stories having a replica of Deutsche Financial institution’s report. Right here’s what she mentioned:
“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’ll 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 it is going to be constructed on Tesla’s current traces.
The report doesn’t say something about Redwood, the interior code identify for a mass market automobile, constructed on a brand new platform, which Musk paused earlier this 12 months. It additionally doesn’t say something concerning the measurement or price, or the way it may differ from a Mannequin 3.
A few extra factors of context: Tesla advised traders on its Q3 earnings name that its plans to ship a extra inexpensive mannequin in H1 2025. They mentioned that to try this it’ll decrease the worth of its present line up after which ultimately promote robotaxis. When requested a couple of non-robotaxi, $25,000 automotive Musk mentioned: ‘We’re not making a non-robo…’”
We will encapsulate that the Mannequin Q is Deutsche Financial institution’s identify for the automobile, 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 inexpensive Mannequin Q within the first half of subsequent 12 months, an enormous growth to the corporate’s plans because it goals to supply a less expensive automotive that may assist broaden its annual development charge.
One in every of Tesla’s plans transferring previous 2024 was to launch a brand new platform that may allow cheaper fashions, bringing the autos 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 group for a really very long time, however now it appears we’ve got 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 autos just like the BYD Dolphin and Volkswagen ID.3.
Earlier right now, Tesla China mentioned it had “no data to share concerning the Mannequin Q,” by way of MKTnews.web.
Tesla mentioned early this 12 months that traders ought to count on a decrease development charge in 2024 due to the corporate’s concentrate on the next-generation platform that might convey extra inexpensive autos.
Tesla’s next-generation platform may imply ‘notably’ decrease development charge in 2024
It additionally mentioned on a couple of event that it plans to convey inexpensive fashions to market within the first half of 2025.
Each of these items would align with the report, which particulars the automobile as a part of the rumored “Venture Redwood” that we reported on throughout January of this 12 months.
The report says the automobile will likely be 15 % smaller and 30 % lighter than the Mannequin 3, bringing a extra compact automobile to the Tesla lineup. With Tesla additionally specializing in the Robotaxi and its Full Self-Driving efforts, this automobile will doubtless be as minimalist as potential.
It would characteristic a steering wheel and pedals in the intervening time, however will likely be geared towards autonomous driving performance.
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