A recent report via China-based Sina Motors shares that Tesla is already in the process of conducting the environmental impact assessment (EIA) of its upcoming "cheaper" car in China. Moreover, the report suggests that Tesla has plans to start road-testing the future vehicle later this year. It also speculates that the $25,000 to $30,000 car may be unveiled at the Guangzhou Auto Show.
Tesla produced nearly 510,000 cars in 2020 and delivered some 499,550. This is quite a feat for an electric-only automaker in the midst of a global pandemic. We've recently learned that most of the Tesla vehicles delivered across the globe were Model 3 sedans, which makes perfect sense since it's Tesla's most popular and least-expensive model.
CEO Elon Musk estimated that the Model Y will eventually outsell all of its other vehicles combined. While this will be difficult since the Model 3 sells so well, it's not impossible. As we just reported, Tesla is poised to build at least 450,000 combined Model 3 and Model Y cars in China in 2021, and those estimates could be conservative. Tesla will also launch the Model Y in Europe this year, producing it at its new Gigafactory in Berlin.
With all of that said, if Tesla can bring an even cheaper model to market, it seems it would easily outsell the Model 3 and Model Y. However, while Musk has supported the idea, and dropped hints periodically, nothing official has been announced yet. The automaker did, however, mention a "Future Product" in its Q4 2020 earnings report.
Sadly, we don't know much about the future vehicle yet. We do understand that it may be designed by local talent in China, rather than by Franz Von Holzhausen and Tesla's primary design team. Sina Motors says the future vehicle will be a compact hatchback that shares the Model 3's platform.
Lede image: E for Electric