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 title 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 measurement 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 try this it can decrease the value of its present line up after which finally promote robotaxis. When requested a couple of non-robotaxi, $25,000 automotive Musk stated: ‘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 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 12 months, an enormous growth to the corporate’s plans because it goals to supply a less expensive automotive that can assist broaden its annual progress price.
One in every of Tesla’s plans shifting previous 2024 was to launch a brand new platform that can allow more cost effective fashions, bringing the autos 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.
In line 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 autos 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,” through MKTnews.web.
Tesla stated early this 12 months that buyers ought to anticipate a decrease progress price in 2024 due to the corporate’s deal with the next-generation platform that will convey extra reasonably priced autos.
Tesla’s next-generation platform might imply ‘notably’ decrease progress price in 2024
It additionally stated 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 “Mission Redwood” that we reported on throughout January of this 12 months.
The report says the automobile can 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 possible be as minimalist as attainable.
It is going to function a steering wheel and pedals in the intervening time, however can be geared towards autonomous driving performance.
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