The Tesla Gigafactory in Shanghai recently underwent an eco-assessment, and in the report posted by Sina Motors on Weibo, it teased a potential new car joining the Model S, X, 3, and Y for 2022. The report hints at the Shanghai Gigafactory being used to build this car, which could cost between $25,000 to $30,000.
China has been a great country for sales for the Californian-based technology company, and this has obviously been a potent reason for the introduction of this new car. It’s said that this car was approved by Tesla during September of last year, and will be verified this year around the month of March. With the car being based on the Model 3 chassis, it will politely sit at the bottom of the Tesla food chain, acting as an entry-level EV that is cheap to own and run.
Tesla "Model $25k" being accelerated to 2022 is 𝙝𝙪𝙜𝙚 news: previous assumption was 2024-2025, and few TSLA valuation models include it.
With a $25k entry price Tesla can cover ~90% of the $5t automotive market by revenue (!).
It's the ultimate killer blow to legacy auto. https://t.co/doQX1h8hxV
— 𝗧𝗲𝘀𝗹𝗮 𝗙𝗮𝗰𝘁𝘀 🔋 (@truth_tesla) January 8, 2021
Obviously, adding an even cheaper car to the lineup, the new vehicle will likely take sales from the Y and even 3, but having a smaller and cheaper car on the market could win over those who are residing within large built-up cities and haven’t the need for a larger or more expensive vehicle. With the price looking to be no higher than $30,000, it’s likely this will win the hearts of many with lower budgets compared to some of the more premium Tesla vehicles.
We’re yet to see this new car in the flesh, but we’re previous got our hands on a sketch that was published by Tesla earlier last year when the company started to hire more people to work on new projects. As you can see from this sketch, it remains very much a Tesla, but much smaller in stature. While the wheelbase may be the same as the Model 3, it’s likely there will be smaller overhangs, bringing the total size of the car down overall.
We’re very excited to see Tesla start to bring the prices of its cars further down with the final objective of everyone being able to own a cheap, easy-to-run electric vehicle. With this thought to be years off, we can’t wait to see how this fits into Tesla’s overall plan.