Tesla Teaser Sparks Speculation About Upcoming Model 2 EV

Excitement is building as Tesla prepares to launch a new high-volume Tesla Model 2 vehicle, leaving little doubt about its arrival. Elon Musk recently added fuel to the speculation fire, hinting at a possible refresh of the Model 3 and teasing a $25,000 vehicle he had mentioned a few years ago.

During the 2023 Annual Shareholder Meeting, Musk revealed a silhouette of the mysterious “new product(Tesla Model 2).” He emphasized that Tesla is actively working on designing and building this exciting addition to their lineup, dispelling any notion of complacency within the company. However, no specific timeline for its release was mentioned, leaving the exact launch date shrouded in mystery.

Musk elaborated further, stating, “We have two new products… Both their design and manufacturing techniques surpass anything currently present in the industry.” In March, Musk had previously showcased a slide featuring two concealed vehicles with distinct contours during Tesla’s Investors Day event.

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One of the rumored candidates is the Tesla Model 2, depicted in a spy picture that surfaced in January 2023. The camouflaged vehicle, believed to have originated from the Tesla Giga factory in Shanghai, displayed a crossover-style design with similarities to the Tesla Model Y. It appeared to be a shortened, lowered, and narrower version, featuring a shorter wheelbase.

A design sketch released by Tesla on Chinese social media after the launch of the Made-in-China Tesla Model 3 in January 2020 further fueled anticipation. Musk had expressed the company’s desire to establish a design and engineering center in China, to create an original car for global consumption. Following this announcement, Tesla invited candidates to submit their portfolios, subsequently leading to a hiring spree for the Giga factory in China.

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Can Tesla succeed in these new market segments?

However, the question remains: Can Tesla succeed in these new market segments? Musk’s vision of a compelling $25,000 electric vehicle that is also fully autonomous was met with skepticism. Ivan Drury, Director of Insights at Edmunds, expressed doubts about the viability of sub-$25,000 vehicles, citing a historical lack of interest from consumers. Drury believes that for such a vehicle to succeed, it must not compromise on essential aspects such as range and overall rideability.

General Motors’ recent decision to abandon its sub-$27,000 Chevrolet Bolt and focus on higher-end EV offerings reinforces this perspective. Drury adds that while customers desire lower transaction prices, the current industry offerings demonstrate that compromises on content, interior space, and body style are not acceptable to the masses.”

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