Tesla may unveil its long-awaited $25,000 entry-level electric vehicle in 2024, according to a new report.
Tesla stock analyst Loup Ventures recently published its 2022 Predictions letters where it claims that the new Tesla, potentially dubbed the Model 2, could be introduced in 2024. However, its prediction is not based on any insider information leaked by Tesla and is simply a prediction, meaning it is worth taking with a pinch of salt.
“Tesla will wait until 2024 to announce Model 2,” Loup Ventures states. “If the company announces the lower-price[d] car too early, they risk slowing sales of Model 3 while ramping capacity during what is likely to be a broader auto recession.”
We last heard Elon Musk speak about the Model 2 during the automaker’s Q4 2021 earnings where he acknowledged that work on the car had yet to start, noting that “we have enough on our plate right now, too much on our plate, frankly.”
Read: This Everything We Think Know About Tesla’s Delayed $25,000 Compact EV
Teslarati claims that Tesla China is heading up the development of the new entry-level model. Very few details are known about it, other than Tesla’s aim to sell it for $25,000, substantially undercutting the Model 3 which starts at $46,990 in the United States. However, given that the Model 3 was supposed to be Tesla’s $35,000 EV, it’s entirely possible that the Model 2 will never actually be available for as little as $25,000.
Regardless of how much the Model 2 sells for, it has the potential to be the brand’s best-selling model and could put the rest of the electric vehicle industry on notice, forcing other automakers to develop similarly-priced sedans that appeal to a larger proportion of the populous than most current EVs.
