There has been a lot of back and forth in recent years about Tesla's long-awaited affordable electric car, unofficially known as the "Model 2" or “Model C”. New information now points to the arrival of the vehicle sooner than expected, since it has been Tesla's own stock analysts, Loup Ventures, who have made such a statement; will the arrival of this long-awaited electric car finally come true?
As it might be expected, there is no specific, official arrival date or name given by Tesla for this model, although as already mentioned, the source can be highly reliable since they are the same firm that correctly announced the arrival of other Tesla models years ago. In any case, Elon Musk himself mentioned the need to launch an "affordable" model, which would apparently be in the $25,000 neighborhood.
According to reports, the company itself recognized that after the effective arrival of electric vehicles that are already on hold, it would be ideal time for the commercialization of an electric car that, apparently, would be designed and produced in Giga Shanghai - China, for global consumption. In fact its presentation somehow began to be rumored right after Tesla began the search for personnel.
In the end none of this has happened, although the dates announced by Loup Ventures to Teslarati could make things quite clear: “Tesla will wait until 2024 to announce the Model 2. If the company announces this lower-priced car too soon, it runs the risk of risk of slowing Model 3 and Model Y sales while manufacturing capacity increases, likely leading to an automotive recession for the brand”. It makes sense, by all means.
That said, the analysis company points out that they must first market the models and technology that they have already announced, such as the Tesla Cybertruck; complete the Tesla Semi mass production preparations; set up and open the new North American Gigafactory, or launch a Tesla Model 3 update. The repertoire of upcoming releases is more than busy and packed.
From Loup Ventures they have pointed out that the announcement and official presentation of an initial prototype of the new EV model should take place during the first half of 2024. Subsequently, its commercialization would not start until the middle or end of 2025 in order to have time to complete the rest of the current projects, as we said before.
Theoretically, as has been pointed out historically, the future Tesla Model 2 or Model C should be a compact electric car that would be placed below the Tesla Model 3 in terms of market position. However, since it is not a model that has been officially presented, it is a mystery for now.
All images courtesy of Tesla Inc.
Nico Caballero is the VP of Finance of Cogency Power, specializing in solar energy. He also holds a Diploma in Electric Cars from Delft University of Technology in the Netherlands, and enjoys doing research about Tesla and EV batteries. He can be reached at @NicoTorqueNews on Twitter. Nico covers Tesla and electric vehicle latest happenings at Torque News.