TSLA analysts at Loup Ventures believe that the Tesla Model 2 will be introduced in 2024.
“Tesla will wait until 2024 to announce the Model 2,” Loup Ventures said in a 2022 forecast letter.
“If the company announces a lower price[d] car too early, they risk slowing Model 3 sales while capacity increases during a broader auto downturn,” explains Loup Ventures.
The venture capital firm expects Tesla to preview the Model 2 in early 2024 and begin ramping up production of the new electric car design in mid-2025..
Tesla Model 2 details
Only a few details about the Model 2 have been released so far. Although Tesla hasn’t actually confirmed any of those details.
Elon Musk has laid out some goals for the new electric car model that Tesla can focus on while developing the Model 2.
First, that The Model 2 is priced at $25,000, which will make it Tesla’s most affordable unit when it goes on sale. Second, the Model 2 will be either a compact car or a subcompact car, a popular design in Europe and Asia.
Tesla China is reportedly working on Model 2 development. Chinese media have published reports stating that Model 2 development has already begun. 2022 speculation pointed to a 2023 initial release date for the Model 2.
The name of Tesla’s $25,000 compact/subcompact car has yet to be officially announced. The terms Model 2 and Model Q have been used to refer to the upcoming electric car, but Tesla has not confirmed the name. During his virtual appearance at the 2022 B20 summit in Indonesia, Elon Musk was asked if Tesla will call its upcoming entry-level EV the Model I. Musk neither confirmed nor denied the name. Instead, he stated that a more fuel-efficient car made sense.
Tesla already has a busy schedule in 2023. It works on it Model 3 improvement, a possible Model Y refresh and a Cybertruck pre-production ramp at Giga Texas. It Tesla Cybertruck could be Tesla’s priority in the first half of 2023.
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