Replace 7:37 p.m. ET: The Wall Avenue Journal’s Becky Peterson reviews having a duplicate of Deutsche Financial institution’s report. Right here’s what she stated:
“I acquired 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 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 will probably be constructed on Tesla’s present traces.
The report doesn’t say something about Redwood, the interior code identify for a mass market car, constructed on a brand new platform, which Musk paused earlier this 12 months. It additionally doesn’t say something concerning the dimension or value, or the way it may 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 inexpensive 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 automobile Musk stated: ‘We’re not making a non-robo…’”
We will 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 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 12 months, a large growth to the corporate’s plans because it goals to supply a less expensive automobile that may assist develop its annual progress charge.
One among 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 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 at this time, Tesla China stated it had “no info to share concerning the Mannequin Q,” through MKTnews.web.
Tesla stated early this 12 months that buyers ought to anticipate a decrease progress charge in 2024 due to the corporate’s deal with the next-generation platform that may deliver extra inexpensive automobiles.
Tesla’s next-generation platform might imply ‘notably’ decrease progress charge in 2024
It additionally stated on a couple of event that it plans to deliver 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 “Challenge Redwood” that we reported on throughout January of this 12 months.
The report says the car will probably 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 probably be as minimalist as potential.
It’s going to function a steering wheel and pedals in the intervening time, however will probably be geared towards autonomous driving performance.
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