Replace 7:37 p.m. ET: The Wall Road Journal’s Becky Peterson experiences having a replica of Deutsche Financial institution’s report. Right here’s what she stated:
“I obtained 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 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 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 dimension or price, or the way it would possibly differ from a Mannequin 3.
A few extra factors of context: Tesla instructed buyers on its Q3 earnings name that its plans to ship a extra inexpensive mannequin in H1 2025. They stated that to do this it is going to decrease the value 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 remains 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 yr, an enormous growth to the corporate’s plans because it goals to supply a less expensive automotive that may assist increase its annual development fee.
Certainly one of Tesla’s plans shifting previous 2024 was to launch a brand new platform that may allow more cost effective 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 now have some substance with a brand new report out of China.
In accordance 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 this time, Tesla China stated it had “no info to share concerning the Mannequin Q,” through MKTnews.internet.
Tesla stated early this yr that buyers ought to count on a decrease development fee in 2024 due to the corporate’s concentrate on the next-generation platform that may carry extra inexpensive automobiles.
Tesla’s next-generation platform might imply ‘notably’ decrease development fee in 2024
It additionally stated on multiple event that it plans to carry inexpensive 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 “Venture Redwood” that we reported on throughout January of this yr.
The report says the car will likely be 15 % smaller and 30 % 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 doable.
It’s going to function a steering wheel and pedals in the intervening time, however will likely be geared towards autonomous driving performance.
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