TL;DR: Tesla is reportedly aiming to start out mass manufacturing on a brand new electrical automobile in mid-2025 and needs suppliers to be prepared, a number of sources accustomed to the state of affairs not too long ago instructed Reuters. Two of the individuals described the brand new automobile as a compact crossover. Others have stated it might look extra like a compact Mannequin Y than a hatchback-style Mannequin 3.
A few of the sources stated Tesla reached out to suppliers final 12 months to get bids for the brand new mannequin, codenamed Redwood. Three sources stated mass manufacturing is slated to start in June of subsequent 12 months. If that timeline is correct, then we will in all probability anticipate an official announcement someday later this 12 months.
The entire sources spoke anonymously because of the confidential nature of the topic.
Final 12 months, Tesla boss Elon Musk expressed concern relating to excessive rates of interest and the influence it might have on massive purchases like autos. The present local weather might set the stage for a brand new wave of low-cost electrics that would higher compete with entry-level gas-powered autos.
In line with a report from Pocket book Test, Redwood (additionally referred to by some because the Mannequin 2) might begin round $22,000 earlier than any potential subsidies. The automobile would possibly use Chinese language-made batteries, nevertheless, which might disqualify it from getting a full $7,500 tax credit score from the US authorities. Even with out it, such a value level could be extremely enticing to many.
The identical article says the Mannequin 2 will function a spread of round 300 miles and be constructed on the Tesla NV9X EV platform. The publication even claims Tesla bought a Honda Civic at one level simply to tear it down and discover ways to construct cheaper autos with out sacrificing high quality. That might not be completely unprecedented for an automaker contemplating Chevrolet reportedly had a really shut take a look at the Ferrari 458 Italia when designing its mid-engine C8 Corvette.
Tesla’s fourth quarter earnings report is due out later as we speak after the bell.
Picture credit score: Duren Williams, Maik Poblocki
