Tesla Exec Confirmed $30K Model Q For 2025, Deutsche Bank Re…

Update: Becky Peterson, a journalist from the Wall Street Journal, says she’s acquired a copy of the Deutsche Bank report from the Autonomous Day conference that took place in NYC on December 5. The report confirms many of the points mentioned in the Chinese media, including that Travis Axelrod met with Deutsche Bank during the conference.

Peterson outlines five key points from the report, including that Deutsche Bank refers to the “new Tesla model” as the “Model Q.” The report also mentions that the EV is expected to launch in the first half of 2025, priced under $30,000 with federal tax credits, and built on Tesla’s existing platforms. However, it’s unclear from her tweet whether these statements are Axelrod’s own words or Deutsche Bank’s assessment. We’ve reached out to Peterson and will update this story if we hear more.

Original story follows below.

I got a copy of the Deutsche Bank report.

Here’s what it does say:

1. @travisraxelrod met with DB for its Autonomous Driving Day on December 5 in NYC.
2. DB describes “the new Tesla model” which it calls “Model Q”.
3. DB says it will launch in the first half of 2025, and…

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— Becky Peterson (@beckpeterson) December 9, 2024

If a report coming out of China, citing statements from a Deutsche Bank conference and Tesla’s VP of Investor Relations, is to be believed—and that’s a big if until there’s official confirmation or firsthand verification, Tesla is allegedly gearing up to launch a new EV called the Model Q next year, priced at just $30,000.

Or at least that’s the gist of a story currently doing the rounds in the Chinese media. The report claims that Travis Axelrod, Tesla’s head of investor relations, confirmed the existence and impending arrival of the new entry-level car during a Deutsche Bank Autonomous Driving Day conference.

Related: Will A $25K Model 2 Small Crossover Hit The Spot For EV Buyers?

The story appears to have originated with Wall Street CN, which claims Axelrod said the baby Tesla will debut in the first half of 2025 prices at $37,500. But if returning president, Donald Trump, opts not to trash the current EV tax credit system the transaction price could drop to just $30k.

And that’s not the only secret car Tesla has in store for us next year, according to the same report. It claims the automaker will also launch other new models to expand its market size in a bid to hit a 25-30 percent growth target. One of those additional EVs could be a long-wheelbase, three-row Model Y conceived primarily with China in mind, but which could also work well in other countries and help plug the huge gap between the Y and X SUVs. The Model Y is also scheduled for a facelift in 2025.

Tesla warned however, that rolling out new product would inevitably lead to a temporary drop in profitability, Chinese media says. Other news supposedly coming out of the conference includes Tesla’s affirmation that it would launch a self-driving taxi service in California and Texas in 2025 using Model 3 and Y vehicles ahead of the launch of the company’s real robotaxi, the Cybercab, in 2026. Tesla will eventually cut the cost of Cybercab production to $30k per unit, the report claims.

We reached out to Travis Axelrod, Tesla’s Investor Relations team, as well as Deutsche Bank’s North American and Chinese divisions for comment, but have yet to hear back from anyone, so for now you probably ought to take the news with a pinch of salt. But if it’s true, legacy carmakers are going to have a nightmare on their hands trying to compete.

Note: The images in this story are digital renders by Francois Hubert/SB-Medien of how a new small Tesla crossover could look, and are not endorsed by Tesla.

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