The most affordable brand-new Teslas today are the Model 3 and Model Y, with starting prices of $42,490 and $48,990, respectively, before federal tax credits. However, Tesla’s been working on offering a cheaper entry point into the brand, which was previously promised to arrive during the first half of 2025. That plan has reportedly been pushed to as far as next year.
Tesla
Tesla, Inc. is an American electric vehicle manufacturer largely attributed to driving the EV revolution. Through the Model S and subsequent products, Tesla has innovated and challenged industry conventions on numerous fronts, including over-the-air updates, self-driving technology, and automotive construction methods. Tesla is considered the world’s most valuable car brand as of 2023, and the Model Y the world’s best-selling car in the same year, but the brand’s greatest achievement is arguably the Supercharger network of EV charging stations.
- Founded
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July 1, 2003
- Founder
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Martin Eberhard, Marc Tarpenning
- Headquarters
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Austin, Texas, USA
- Owned By
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Publicly Traded
- Current CEO
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Elon Musk
The delay to the promised more affordable Tesla EV was reported by Reuters, citing three unnamed sources privy to the matter. Poised to hit the $30,000 mark, this new cheaper Tesla EV is internally coded E41 and is set to be produced in the US, with plans to manufacture in China and Europe afterwards. However, the sources said the production will start months later than previously announced, with new launch dates happening between Q3 2025 and early 2026.
Smaller And Cheaper To Produce Than The Model Y
According to reports, the project E41 will be an electric crossover, much like a stripped-down version of the Tesla Model Y. However, it will supposedly be smaller than America’s hot-selling EV, and will be 20 percent cheaper to produce than the current version of the Model Y. Tesla has not officially gone into the details about its planned more affordable offerings.
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Tesla is banking on the more attractive pricing of its new model to boost its ailing sales. According to Reuters‘ sources, the Texas-based automaker plans to produce 250,000 units of the project E41 in 2026. Production targets in China and Europe weren’t disclosed. Of note, Tesla changing its timeline isn’t something new to the brand, just as what happened with the Cybertruck when it finally hit the market years after its public launch.
Bare-Bones Tesla Model 3 Planned
Apart from the project E41, Tesla is also reportedly planning to launch a bare-bones version of the Model 3 sedan, according to Reuters‘ sources. No information about its production launch and volume targets was disclosed and this is the first time we’ve heard about this. But if it holds true, Tesla would have two cheap models that could help attract a new set of buyers to the brand.
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The anonymous sources also said that Tesla has been working to source its parts from North American suppliers to shield its models from the US government’s blanket tariffs, and that includes the upcoming more affordable models. As with previous Tesla reports, let’s keep an ear on the ground and take them with a pinch of salt – at least until the automaker officially launches its promised EVs.
Source: Reuters
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