According to reports, at a recent investor meeting held by Deutsche Bank, Travis Axelrod, head of Tesla investor relations,Tesla said it plans to launch a new model called "Model Q" in the first half of next year, with a price of less than $30,000 after subsidies.
Tesla further stated that Tesla aims to expand its market by launching more models in China, including the three-row long wheelbase Model Y, and achieve sales growth of 20-30% by 2025.
According to reports, Model Q is internally called "Redwood" and has a length of approximately 3988 mm, which is 15% smaller and approximately 30% lighter than Model 3.
The new car will use lithium iron phosphate batteries with capacities of 53kWh and 75kWh.Single-motor and dual-motor options are available, with an estimated range of 500 kilometers.
The overseas starting price of Model Q is about US$25,000.The price of models produced at Tesla's Shanghai factory may drop to 140,000 yuan.
It is worth noting that Tesla’s cheapest model currently on sale is the Chinese version of the Model 3, with a starting price of 231,900 yuan (approximately US$31,800).
The Model Q, which will be released next year, will have a starting price of no more than 30,000 US dollars. By then, the Model Q will become Tesla's cheapest model, forming a direct competitive relationship with BYD, Volkswagen and other brands.