thehas become perhaps the most fashionable vehicle launch in modern history. It promised long range, tons of technology, and a starting price of $ 35,000.
Whileis technically possible, most Model 3s cost more and CEO Elon Musk seems to want to build something more affordable by the automaker. An Autocar report on Tuesday suggests the car will be a Model 3 sedan.
On a call to investors and analysts, Musk said Tesla “will not succeed” in his mission if he does not continue to build more affordable electric cars, and that it “bothers” him that Teslas does not. are not more affordable. The CEO added “it’s reasonable to assume” that the EV maker has something “compact” and more affordable in the pipeline.
Musk made no explicit mention of a Model 3 hatchback, but the report says this new, cheaper model will take that shape to better compete in Europe, where small runabouts are a practical choice for many. Tesla’s Nextcan possibly build the supposed Model 3 sedan. Construction of the plant is underway and is expected to be completed by the middle of next year.
Tesla did not immediately return a request for comment.
A (literally) quick drive into Tesla’s Model 3 performance
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How affordable are we talking about? Autocar, a British publication, names this new Tesla as a direct rival of theand . The ID 3 will sell for £ 27,500 in the UK which at the current exchange rate is around $ 36,000. It’s not even clear if a likely smaller Tesla would be on the menu for the US, but as it stands, European rivals will downsize the Model 3 in the coming months. Tesla’s electric sedan starts at the equivalent of $ 57,000 in the UK. Here in the United States, the Model 3 is much more affordable.
This isn’t the first time we’ve heard of a smaller, and possibly cheaper, Tesla Model. Earlier this year, Tesla revealed a sketch of some sort of city car and started hiring for. A smaller and simpler electric vehicle for China could certainly influence a similar vehicle for Europe.
If a Model 3 hatchback comes to life, Tesla will certainly have a loaded product rollout over the next few years. The automaker plans to launch theafter delays, and the . Then there is the , which is expected to reach the end of next year at a .