Replace 7:37 p.m. ET: The Wall Avenue Journal’s Becky Peterson stories having a duplicate of Deutsche Financial institution’s report. Right here’s what she mentioned:
“I bought a duplicate 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 is going to 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 inner 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 in regards to the dimension 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 reasonably priced mannequin in H1 2025. They mentioned that to do this it is going to decrease the worth of its present line up after which finally promote robotaxis. When requested a few non-robotaxi, $25,000 automotive Musk mentioned: ‘We’re not making a non-robo…’”
We are able to 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 outdoors 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 12 months, a large growth to the corporate’s plans because it goals to supply a less expensive automotive that can assist broaden its annual development fee.
Considered one of Tesla’s plans shifting 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 now we have some substance with a brand new report out of China.
In response to 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 this time, Tesla China mentioned it had “no info to share in regards to the Mannequin Q,” through MKTnews.web.
Tesla mentioned early this 12 months that traders ought to anticipate a decrease development fee in 2024 due to the corporate’s concentrate on the next-generation platform that will convey extra reasonably priced automobiles.
Tesla’s next-generation platform may imply ‘notably’ decrease development fee in 2024
It additionally mentioned on multiple event that it plans to convey reasonably priced 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 “Challenge Redwood” that we reported on throughout January of this 12 months.
The report says the automobile might 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 probably be as minimalist as attainable.
It’s going to characteristic a steering wheel and pedals in the interim, however might be geared towards autonomous driving performance.
Want some superior equipment to your Tesla in time for the Holidays? Take a look at the Teslarati Market:
Please e-mail me with questions and feedback at [email protected]. I’d love to speak! You can too attain me on Twitter @KlenderJoey, or you probably have information ideas, you’ll be able to e-mail us at [email protected].
