According to a report by Deutsche Bank, Tesla is preparing to launch a basic electric vehicle named Model Q in the first half of 2025. This new model will be smaller than Tesla's Model 3 and priced at $30,000.
The news was revealed by Tesla's head of investor relations, Travis Acklerod, during the Deutsche Bank conference in New York. Notable journalist Becky Peterson disclosed that she obtained a copy of the Deutsche Bank report at the Autonomous Day conference held on December 5, which confirms several points mentioned in Chinese media, including that Acklerod met with Deutsche Bank during the conference. Peterson pointed out five key points from the report, including that Deutsche Bank refers to the new Tesla model as 'Model Q.'
The report also mentions that the electric vehicle is expected to launch in the first half of 2025, with a price below $30,000 with federal tax incentives, or below $38,000 without it, and built on existing Tesla platforms.
However, it is unclear from his tweet whether these statements are Acklerod's own words or an assessment from Deutsche Bank. In another tweet, Peterson noted that the report does not mention 'Redwood,' the internal codename for the new vehicle built on a new platform, which was previously shelved by Musk earlier this year.
The report also does not state anything about the size or cost of the vehicle, or how it may differ from Model 3. The story originated from a report by the Wall Street Journal, which claimed that Acklerod said the small Tesla would debut in the first half of 2025 at a price of $37,500.
However, if President Donald Trump chooses not to abandon the current electric vehicle tax incentive system, the price could drop to just $30,000. According to the same report, this is not the only secret vehicle that Tesla has in store for us next year.
Reports claim that the automaker will also launch other new models to expand its market size in an effort to achieve a growth target of 25-30%. One of these additional electric vehicles could be a long-wheelbase, three-row Model Y designed primarily for the Chinese market.
Updates to the Model Y for the Chinese market launch include interior and exterior design improvements, as well as performance enhancements. One of the most noticeable updates is an increase in zero hundred acceleration，with the rear-wheel-drive model now achieving 0 to 100 km/h in 5.9 seconds, a full second faster than its previous rating. The maximum speed remains at 217 km/h.
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