It will be priced from £20k or $25k US.
It will be a hatchback.
On-sale date expected in 2023.
Tesla has enjoyed so far unrivaled sales success and dominance in all things EV. Its key players, the Model 3 and latest offering, the Model Y SUV, are doing extremely well however increasing competition from mainstream automakers means that Tesla will have to fight fire with fire. In other words, it needs an inexpensive hatchback, and it’s coming.
2021 Tesla Model Y SR | Photo: Matt St-Pierre
Rivals such as the Volkswagen ID.3, Nissan LEAF, and numerous other affordable alternatives from European automakers are poised to eat away at Tesla’s lead. As we know, the incredible competitive Musk will address this and introduce an all-new compact hatchback in 2023.
Tesla CEO, Elon Musk, as reported by Autocar, said: “One of the things that troubles me the most is that we don’t have a truly affordable car, and that’s something we will have in the future. For that, we need cheaper batteries.”
The California-based EV company is currently developing battery technology that is claimed to reduce manufacturing costs by up to 50%. What’s more, these cells will provide five times more energy and deliver 16% more range.
This as-of-yet unnamed compact hatchback is projected to be priced from £20,000, or about half the price of the cheapest Model 3. In US dollars, this works out to $25,000 compared to $40,000 for the base RWD Standard Range Plus Model 3.
