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Tesla Model 2 Revealed: Everything We Know About the New Budget Tesla
Tesla Fans in Anticipation: New Generation Approaching Despite Musk's Growth Hiatus. Model 2 Set to Shine in 2025.
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For fans of the electric car manufacturer, it has been quiet for a long time regarding new models from Tesla. But given the growing competition in the electric vehicle market, followers of the company led by the multi-talented Elon Musk are longing for a breath of fresh air. Now, the CEO announces that Tesla is currently between two waves of growth, thus providing the perfect foundation for the introduction of the "new generation" of Tesla vehicles next year.
So far, little is known about the new model, known as "Model 2". Unlike other car manufacturers who offer a wide range of products, Tesla sticks to a manageable selection of models. However, the patience of fans will soon come to an end, as the new model is set to be unveiled next year.
According to Musk, Tesla is currently working on a "revolutionary" production system, which could make the company the most valuable in the world. This system will also be used for the production of the new, cheaper compact model. However, more detailed information on this remains forthcoming. Production is scheduled to start in the second half of 2025, with Musk himself admitting to often being "optimistic about timing".
However, this timeline is already being questioned by experts. Toni Sacconaghi, an analyst at Bernstein, fears that mass production of the Model 2 won't begin until 2026, assuming the production ramp-up doesn't go as difficult as with the other Tesla models.
The production of the new model is set to start at the Austin factory in Texas, where engineers "will have to live on the production line," as Musk explained during the financial statement presentation. However, the CEO did not want to give a specific forecast regarding the expected unit numbers for next year.
So far, there are no official details about the name of the new model. However, in reference to Tesla's currently most affordable vehicle, the Model 3, the media has already dubbed it the "Model 2". Market analysts expect that the price for the new model will be around 25,000 US dollars. According to market analysis, it is essential that the price remains below 30,000 US dollars in order for Tesla to establish a position in the market for affordable electric vehicles.
The analyst Seth Goldstein from Morningstar emphasizes in an interview with a news portal that Tesla must offer an affordable vehicle in order to continue its growth in the luxury vehicle segment. In the US market, an average vehicle costs about 48,000 US dollars according to market analysis.
In the past year, Tesla faced increasing demand concerns, leading to price reductions in various countries. Therefore, Musk no longer wanted to provide specific delivery targets for 2024. However, the company has already "performed very well" in the luxury segment. Now, the goal is to gain a foothold in the affordable electric vehicle sector with the new, inexpensive model and to continue to drive the rapid growth of deliveries.