Replace 7:37 p.m. ET: The Wall Avenue Journal’s Becky Peterson studies having a replica of Deutsche Financial institution’s report. Right here’s what she stated:
“I acquired 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 can launch within the first half of 2025, and can value lower than $30k with subsidies, or $37,499 if Trump cancels the IRA tax credit score. 4. DB says it will likely be constructed on Tesla’s present strains.
The report doesn’t say something about Redwood, the inner code title for a mass market car, constructed on a brand new platform, which Musk paused earlier this yr. It additionally doesn’t say something in regards to the dimension or value, 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 can decrease the value of its present line up after which ultimately promote robotaxis. When requested a few 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 title 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 broaden its annual development price.
Considered one of Tesla’s plans transferring previous 2024 was to launch a brand new platform that can allow more cost effective fashions, bringing the automobiles to a brand new demographic and maybe increasing gross sales for years to return.
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 have now some substance with a brand new report out of China.
Based on 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 in the present day, Tesla China stated it had “no info to share in regards to the Mannequin Q,” by way of MKTnews.web.
Tesla stated early this yr that buyers ought to count on a decrease development price in 2024 due to the corporate’s give attention to the next-generation platform that will carry extra reasonably priced automobiles.
Tesla’s next-generation platform may imply ‘notably’ decrease development price in 2024
It additionally stated on a couple of event that it plans to carry 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 will likely 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 attainable.
It’ll function a steering wheel and pedals in the interim, however will likely be geared towards autonomous driving performance.
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