Tesla analysts at Loup Ventures believe that the Tesla Model 2 will be unveiled in 2024.
“Tesla will wait until 2024 to announce the Model 2,” Loup Ventures said in its 2022 forecast letter.
Loup Ventures explained, “If the company releases a lower-priced car too early, it could potentially slow sales of the Model 3. It will also be difficult to meet the capacity of the new car.”
The venture capital firm expects that Tesla will offer a preview of the Model 2 in early 2024 and begin expanding production of the new electric car in mid-2025.
Elon Musk has set a number of goals for the new model, and Tesla will likely focus on those goals during the development of Model 2. First, the price target for the Model 2 is $25,000 (about RMB 173,000), which would make it Tesla’s most affordable model when it goes on sale. Second, the Model 2 will be a compact or subcompact car, a model that is more popular in Europe and Asia. It’s worth noting that Tesla China was previously reported to be working on the Model 2.
The name of Tesla’s $25,000 compact/subcompact model has not yet been officially announced; the names Model 2 and Model Q have been used to refer to this upcoming model, but Tesla has not officially confirmed the name. In a virtual appearance at the 2022 B20 summit in Indonesia, Elon Musk was asked if Tesla would name its upcoming entry-level electric car the Model I. Musk did not confirm or deny the name, saying instead that a more affordable model made sense.
