Globally, in 2022, 7.6 million EVs were sold; of them, 17% were Tesla.
EV automotive manufacturer Tesla continues to be at the forefront of the electric vehicle revolution. In 2022, they sold 1.3 million vehicles despite major production and shipping issues. Most Tesla vehicles are ground-breaking cars that have pushed the boundaries of automotive technology. For the privilege of driving these cars, consumers had to pay a high price.
Now, they have teased the release of a budget-friendly alternative for the consumer who wants to drive a Tesla but may not be able to afford the Model X. Within Tesla’s repertoire, it will be positioned below the Model 3 and Model Y as a more compact vehicle.
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Unveiling what we know
The rumors about a budget-friendly Tesla started in 2018. And finally, in 2022, Elon Musk admitted that he was interested in making a more economical and affordable Tesla vehicle. While the automotive company hasn’t officially given this car a name, the names “Model 2”, “Model Q,” and “Model C” were all coined by Tesla enthusiasts. However, Tesla has given a clear indication of the price of the vehicle.
During a 2020 shareholder meeting, confirm that the Model 2 will have an entry price of between $25,000 – $30,000 and target the budget electric vehicles market gap. There are a minimal number of EVs in this price bracket before the addition of government EV incentives. The Model 2 is expected to be a global model and will be manufactured in several different Tesla locations worldwide, including Mexico, Berlin, and Shanghai.
So, what can consumers expect from the EV automotive company’s newest creation? In true Tesla style, the company hasn’t released any specifics on the car but has left consumers with clues and teasers. We have pieced together these snippets of information to create the best inferences about Tesla’s compact creation.
Exterior of the Tesla Model 2
Leaked photographs show that the Model 2 may come in hatchback or SUV form. These photographs show a camouflaged vehicle with a compact frame and shorter wheelbase. Both indicative of a hatchback or a hybrid SUV.
If this is true, an EV hatchback of less than $30,000 would have few direct competitors. Its main competitor would be the Chevy Bolt EV, which is making a comeback this year. It has 250 miles of range for $27,000, but its reputation has been damaged due to several major technological problems. Also, outside of America, it would have competitors like Volkswagen ID2.
If it is a hybrid SUV, it will be lower, shorter, and narrower than the Model Y, Tesla’s full-sized SUV.
Interior of the Tesla Model 2
The interior of this new Tesla will be designed the same way as all other Tesla vehicles, minimally. It should feature a modern, sleek cabin dominated by technology in the form of a 15-inch touchscreen. Also, like other Tesla vehicles, the gauge cluster could be removed. The controversial Autopilot system should be installed within the car, which gives the driver access to semi-autonomous driving features. Other features that may be included are ventilated seats, a heated steering wheel, and LED lighting.
The Battery Technology of the Tesla Model 2
Tesla enthusiasts expect the Model 2 to have a top speed of 125mph and can reach 0-60mph in between four and six seconds.
To reach these expectations, several battery technology options could be implemented into the Model 2. The most exciting prospect is implementing Tesla’s newest battery technology, the 4680 battery. It contains five times more energy, six times more power, and is considerably lighter, giving vehicles up to 16% of increased range.
So far, this battery has only been implemented in the Model Y AWD, which Tesla limited the driving range to 270 miles. This limitation was implemented to prevent the new Model Y AWD from outselling its pricier original. The same approach may be given to the new compact vehicle. This will ensure that consumers’ interest in the Model 3 does not drop due to the superior features of Tesla’s latest car.
If this happens, it could result in Tesla using LFP batteries for vehicles. These do not offer long-range driving, like the Model 2. Still, this compact vehicle should provide consumers with between 250 and 300 miles on a fully charged battery.
The third option is for Tesla to use M3P batteries produced by the Chinese company CATL. They offer considerably more energy density and can be used for higher efficiency in Tesla vehicles.
Release Date for Tesla Model 2
As there have been several massive problems with Tesla production schedules since the COVID-19 pandemic, the EV manufacturing company is already significantly behind in bringing the re-vamped Roadster and eagerly awaited Cybertruck to the market. Due to these issues, until these vehicles are successfully brought to the market, there will be no definite announcement on the release of the Model 2.
But to keep fans on their toes, which Elon Musk loves to do, he released a teaser of an unidentified vehicle that Tesla has been developing at a shareholder meeting this year. The image features a brief silhouette of a car, but no distinguishing features could be identified. Fans have speculated that this could be the Model 2 as Tesla has released that they also plan to produce a passenger van and a bus, which the vehicle in the photo does not resemble.