I have obtained a copy of the Deutsche Bank report, and here are the key details:
- Travis Axelrod participated in Deutsche Bank’s Autonomous Driving Day in New York City on December 5.
- Deutsche Bank refers to the new Tesla vehicle as the “Model Q.”
- The vehicle is expected to launch in the first half of 2025, with a price tag of less than $30,000 with subsidies, or $37,499 if the IRA tax credit is canceled by Trump.
- The report indicates the vehicle will be produced using Tesla's existing manufacturing lines.
Notably, the report does not mention Redwood, the internal project code for a mass-market vehicle on a new platform that Musk paused earlier this year. It also offers no information about the vehicle's size, cost, or how it may differ from the Model 3.
For additional context, during Tesla's Q3 earnings call, the company confirmed plans to release a more affordable model by the first half of 2025. They outlined that this would involve lowering the price of current models and, eventually, launching robotaxis. When questioned about a non-robotaxi $25,000 car, Musk responded, “We’re not making a non-robo…”
It is important to note that the “Model Q” label is attributed to Deutsche Bank, not Tesla. This name is used externally, while Tesla itself has yet to officially adopt it.
Additionally, the report has been updated with new information, including a statement from Tesla China, which has commented on the Model Q.
Tesla plans to introduce the affordable Model Q in the first half of next year, representing a significant milestone in the company’s strategy to expand its growth by offering more affordable vehicles.
In the years following 2024, Tesla intends to introduce a new platform that will enable the production of cost-effective models, broadening the appeal of Tesla vehicles to a wider demographic and potentially boosting long-term sales.
The Model Q, as well as rumors surrounding other models like the Model 2, have circulated for a while, but recent reports, including one from Globalchinaev, suggest that the Model Q is gaining traction. Tesla has reportedly communicated its plans to launch the Model Q for less than $30,000, positioning it to compete with vehicles like the BYD Dolphin and Volkswagen ID.3.
However, earlier today, Tesla China stated that it had “no information to share about the Model Q.”
Tesla has also mentioned this year that it expects a lower growth rate in 2024 due to its focus on developing the next-generation platform for more affordable vehicles.
These developments align with the timeline outlined in the report, which links the vehicle to the rumored “Project Redwood” discussed in January.
According to the report, the Model Q will be 15% smaller and 30% lighter than the Model 3, introducing a more compact model to Tesla’s lineup. With Tesla's emphasis on Robotaxi development and Full Self-Driving features, the vehicle is likely to be minimalist in design. It will include a steering wheel and pedals initially but will be designed for autonomous driving functionality.
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