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Tesla Is Developing a New Smaller, Cheaper EV, Sources Say
- On Thursday, Reuters reported that Tesla is developing a new compact electric SUV, with production planned for Gigafactory Shanghai and pricing substantially below the Model 3.
- The development marks a pivot after CEO Elon Musk previously canceled affordable EV plans, calling human-driven cars "pointless" and "silly" while betting the company on a fully autonomous future.
- Tesla plans to use a smaller battery and single electric motor to achieve lower costs, with the vehicle measuring about 14 feet in length, significantly shorter than the Model Y.
- One employee told Reuters the vehicle reflects a dual-purpose approach, capable of operating driverlessly or offering a human-driven option, allowing Tesla to maintain production volume regardless of autonomous adoption pace.
- Project details remain in an early development stage with no production timeline before 2027, though the company requires a mass-market model to support growth as Q1 2026 deliveries fell to 358,000.
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Tesla’s Next Big Bet – A Smaller, More Affordable EV
Tesla is working on a new, smaller, and cheaper electric SUV, according to four sources familiar with the plan. The company has recently reached out to suppliers to discuss the SUV’s manufacturing process and specifications. Unlike Tesla’s existing Model 3 or Y, this SUV will be an entirely new vehicle. Three sources indicated that production […] The post Tesla’s Next Big Bet – A Smaller, More Affordable EV appeared first on Modern Diplomacy.
According to a report, the electric car manufacturer is planning a change of strategy: fewer cybercabs and robots, more core business with a new SUV – which is also to be built in Germany.
·Düsseldorf, Germany
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Total News Sources42
Leaning Left8Leaning Right7Center7Last UpdatedBias Distribution36% Left
Bias Distribution
- 36% of the sources lean Left
36% Left
L 36%
C 32%
R 32%
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