Wednesday, March 01, 2023
By Kamal Swami
Tesla Previews The Sketch Of Its New Electric Car
Tesla has been developing a new electric vehicle platform that will make its electric cars more affordable and accessible for mass-market consumers. The company has been discussing plans to build an EV priced below $25,000 for several years, and rumours of this entry-level model have been circulating recently.
Recently Tesla shared a sketch of a compact hatchback that is believed to be the upcoming Model 2, its most anticipated entry-level model. The company is expected to unveil the Model 2 during its Investor Day event on March 1. The sketch of the electric car was included in an advertisement inviting new employees in China to join Tesla, and the company also shared a glimpse of it in a video showcasing Tesla's new engineering headquarters in California.
Reports suggest that the new EV will be 15% shorter, 30% lighter, and equipped with a battery pack that is 25% smaller than Tesla's smallest current offering, the Model 3. The overall cost of the new model is expected to be 37% less due to changes in design, architecture, and manufacturing.
Tesla CEO Elon Musk has said that the new platform is capable of producing electric cars at half the cost of the Model Y and Model 3, which could lead to a gross margin of over 20% on the Model 2. This smaller EV could help Tesla increase sales in China and generate interest for a similar model in the US market.