Replace 7:37 p.m. ET: The Wall Road Journal’s Becky Peterson reviews having a duplicate of Deutsche Financial institution’s report. Right here’s what she mentioned:
“I obtained 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’ll 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 is going to be constructed on Tesla’s present strains.
The report doesn’t say something about Redwood, the inner code title for a mass market automobile, constructed on a brand new platform, which Musk paused earlier this yr. It additionally doesn’t say something concerning the dimension or value, or the way it would possibly 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 value of its present line up after which ultimately promote robotaxis. When requested a couple of non-robotaxi, $25,000 automobile Musk mentioned: ‘We’re not making a non-robo…’”
We will encapsulate that the Mannequin Q is Deutsche Financial institution’s title for the automobile, not Tesla’s. Mannequin Q remains 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 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 automobile that may assist develop its annual progress fee.
Considered one of Tesla’s plans transferring previous 2024 was to launch a brand new platform that may allow less expensive 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 neighborhood for a really very long time, however now it appears we’ve got some substance with a brand new report out of China.
In keeping 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 right now, Tesla China mentioned it had “no info to share concerning the Mannequin Q,” through MKTnews.web.
Tesla mentioned early this yr that traders ought to count on a decrease progress fee in 2024 due to the corporate’s give attention to the next-generation platform that will convey extra inexpensive automobiles.
Tesla’s next-generation platform may imply ‘notably’ decrease progress fee 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 “Undertaking Redwood” that we reported on throughout January of this yr.
The report says the automobile will likely be 15 p.c smaller and 30 p.c 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 can function a steering wheel and pedals in the interim, however will likely be geared towards autonomous driving performance.
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