Model Q leaked! What to expect from Tesla's $30,000 EV
Tesla is said to be working on a new compact EV, internally dubbed "Model Q," priced under $30,000 after subsidies. The news came from Travis Axelrod, Tesla's head of investor relations, who spoke at an investor conference hosted by Deutsche Bank earlier this month. The project, dubbed Project Redwood, would make the Model Q much smaller and lighter than the existing Model 3. Here's what to expect from the upcoming EV.
Model Q to be smaller, lighter than Model 3
The Model Q would be around 15% smaller and 30% lighter than the Model 3, measuring roughly 157-inch in length. Tesla intends to offer two variants of the Model Q: a single-motor rear-wheel-drive (RWD) model and a dual-motor all-wheel-drive (AWD) version. The former would come with a 53kWh lithium-iron-phosphate (LFP) battery, while the latter would sport a bigger 75kWh LFP battery.
Model Q's production and potential impact on Tesla's sales
Production for the Model Q is expected to start around June 2025, with Tesla targeting an output of around 10,000 units per week globally. This would be about 500,000 vehicles a year. The new model will be built on existing assembly lines with minimal changes to ensure a smooth production ramp-up. Axelrod said the new model could increase sales by 20% to 30%, although profits might dip due to investment in the new lineup.
Skepticism surrounds Model Q's release timeline
CarandDriver was skeptical about the timeline for the Model Q's release, considering there have been no sightings of prototype testing. They speculated Axelrod could have been referring to a version of the Model 3 with a smaller battery instead. The timeline for the Model Q's release remains uncertain, considering Tesla's history with time frames. CarandDriver advises taking Axelrod's timeline "with a grain of salt," given past experiences with Tesla's announcements.
