**Is Tesla’s Budget-Friendly EV Called the “Model Q”? Here’s What We Know So Far**
Could Tesla’s eagerly awaited affordable electric vehicle be named the “Model Q”? Although the name is still conjectural, the launch of a more economical Tesla seems increasingly plausible.
A recent disclosure from Deutsche Bank highlights Tesla’s intentions, indicating that the new model might make its debut in the first half of 2025, starting at a price below $30,000.
### **Insights on Tesla’s “Redwood” Initiative**
As per **GlobalChinaEV**, Tesla’s Head of Investor Relations, Travis Axelrod, shared insights about the vehicle—codenamed “Redwood”—during discussions with Deutsche Bank. The report suggests that the car will be 15% smaller and 30% lighter than the Model 3, with production costs reduced by 50%. Furthermore, the vehicle is believed to offer two battery sizes (53kWh and 75kWh) and will be available in both single- and dual-motor variants.
### **Contradictory Information and Speculation**
While these details seem encouraging, it’s wise to approach them with caution. **Becky Peterson** of *The Wall Street Journal* examined the Deutsche Bank report and confirmed Axelrod’s conversation regarding the new Tesla. However, she specified that the “Model Q” nomenclature seems to be the designation from Deutsche Bank rather than Tesla itself. Peterson also mentioned that the vehicle is likely to be manufactured on Tesla’s current production lines and would cost less than $30,000 with subsidies—suggesting an original price of $37,499 prior to incentives.
Interestingly, Peterson highlighted that the report is lacking in specific information concerning the vehicle’s dimensions, price, or the “Redwood” codename. The Redwood platform, initially intended as a basis for a mass-market vehicle, was reportedly put on hold by Elon Musk earlier in 2024.
### **What Does Elon Musk Think?**
The Deutsche Bank report doesn’t provide much additional insight beyond what Tesla CEO Elon Musk has previously revealed. Musk recently affirmed that a more affordable Tesla is anticipated in early 2025 but offered no additional specifics. He also categorically stated that a $25,000 non-Robotaxi Tesla is not currently being developed.
### **What Are Our Current Thoughts?**
Despite the excitement, we find ourselves essentially where we began. While Musk’s AI platform, Grok, has claimed that Tesla has announced the “Model Q,” no formal confirmation has been provided. A more affordable Tesla seems to be on the way, but whether it will be a completely new model or simply a lower-priced iteration of the Model 3 is still uncertain.
For the time being, Tesla fans will need to await clearer details. One thing is clear: the EV industry is intently watching what Tesla has planned for 2025.