Could a less expensive Tesla bring the brand to a broader audience? A Deutsche Bank report fuelled that discussion with the provisional name “Model Q”, describing an entry-level car priced below $30,000 after US incentives and projected for the first half of 2025. Here is what the report suggested, and why the proposal attracted attention.

Model Q: projected specifications and price

“Model Q” was the name used by Deutsche Bank, not a confirmed Tesla product name. The report described a more accessible EV intended for a wider market, with the following expected characteristics:

  • Size: projected to be 15% smaller and 30% lighter than Model 3.
  • Price: projected below $30,000 with the US tax incentives assumed in the report, or around $37,500 without them. European pricing remained unknown.
  • Platform: expected to use existing production lines to reduce cost and complexity.
  • Technology: intended to support future autonomous-driving ambitions, while retaining a steering wheel and pedals for manual use.

Reaching a different audience

Such a car could compete with models including the BYD Dolphin and Volkswagen ID.3, broadening Tesla’s appeal beyond premium buyers to the middle of the market. Why would a cheaper Tesla matter? The article highlighted three reasons:

  1. Expanding the EV market: a competitive price could reach buyers previously unable to afford an electric car.
  2. Closing the competitive gap: BYD, Volkswagen and GM were already targeting more affordable EVs; a cheaper Tesla would answer that challenge.
  3. Supporting wider EV adoption: lower prices could help more people switch to electric vehicles.

Immagine Rappresentativa di una Tesla Model Q, la prossima rivoluzione del mercato EV

The background to the project

The article connected the proposed model to Project Redwood and Tesla’s wider affordable-vehicle strategy. It noted delays and Musk’s emphasis on using existing platforms rather than immediately building an entirely new one. Some rumours envisaged a particularly minimalist vehicle, with a simplified interior and a strong focus on manufacturing efficiency.

Any lower-cost Tesla would face substantial challenges. Competition was intensifying, particularly from Chinese manufacturers such as BYD, while investment in new models could put short-term pressure on margins. Tax policy was another uncertainty: without the anticipated US incentives, the projected price would be less attractive. The report’s price assumptions could not simply be carried over to Europe.

Looking ahead

A lower-priced Tesla represented a potentially important opportunity to expand the EV market. A $30,000 car could attract buyers previously unable to consider the brand, but delivering that price would depend on manufacturing costs, competition and incentives. The article looked towards 2025 as a possible turning point; the model name, specifications and launch timing remained reported expectations.

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Giorgio Rebecchi

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Giorgio Rebecchi
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