Tesla is the pioneer in the Electrical Vehicle (EV) industry. The Elon Musk powered EV maker has revolutionized the future using its Lithium-based electric vehicles. But do you know, with the competition picking up, Tesla is soon to bring more changes to maintain its supremacy.
Announcement of a Compact Vehicle
It wasn’t a full blown announcement, but back in July 2020, Elon Musk hinted at making a compact vehicle. During his speech in the Q2, 2020 earnings, Musk said that the company “would make a compact vehicle of some kind” in the near future. He even indicated that despite green signaling the project right away, it would still be a few years away from making it available for their customers. Move forward by a year, and now the world has an idea about what Musk was exactly hinting back in 2020. Notably, it turns out to be a Tesla car indeed, which the internet was calling the Tesla Model 2.
About Tesla Model 2
The news about the Tesla Model 2 broke out at the 2020 Annual Shareholder Meeting and Battery, where Musk confirmed the two electric cars. The renders posted by the Instagrammer SugarDesign revealed that the new Tesla entry level car would be a hatchback. Moreover, the car will be available at a much accessible lower than ever price tag of $25000. Thus, making it a Tesla version of Tesla for everyone.
Tesla Model 2 Platform and Production
The Environmental Impact Assessment Document was posted on the ElectricVehicleWeb. It was released in February, and it showed the expansion of the Tesla Gigafactory Shanghai. The project was named “the second phase of the Tesla Gigafactory Project (Phase 1).” With the completion of this project, it is expected that Model Y and Model 3 production capacity will be increased and add more derivative models. Here “the derivative models” refers to the $25,000 Tesla car that will be a smaller, hatchback version of Tesla Model 3. So, don't be surprised if the Tesla stocks is taken to the moon.
The Reason that Prompted the Hatchback Creation
The common problem with the Tesla vehicle has been its price tag. Elon Musk himself had acknowledged that his Tesla electric cars aren’t affordable enough for the masses. It has been troubling him, and he stated that it is about time the company did something to fix the issue. As a result, Tesla moved towards its Tesla Model 3’s cheaper iron phosphate battery in China. It is one move that Tesla can make to bring down the price of its car range.
According to Tesla, the new battery design brings down the car’s price to $25,000 and offers five times more energy and six times more power. However, the battery construction is only one aspect of their upcoming EV’s construction, meaning Tesla will adjust the other aspects. The hatchback will be showcasing a new lighter design, and the light battery will support the car’s underpinnings. A combination of the light battery with the light design is expected to make the EV 10%% lighter than the conventional Tesla EVs. Also, its range will be boosted by a further 14 per cent.
Tesla Model 2 Release Date
Musk has suggested that Tesla won’t be rushing their $25,000 electric car as they intend to make the best car. He even hinted that the car would have advanced driver assistance technologies such as autonomous and hands free driving. When it comes to getting the car on sale, Musk specifically said, “ think probably in about three years from now, we are confident we can make a very compelling $25000 electric vehicle that’s also fully autonomous.” Thus, the world can expect cars to hit the market in 2023 and witness the automotive industry change.
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