Elon Musk’s Tesla has teased a new, more affordable hatchback to add to their range

A new Tesla has been mentioned by the Californian-based electric car company that could cost from as little as £18,000 – making it substantially cheaper than most offerings on the market. This is mainly in part to the fact that the production costs are said to be half that of the Model 3 and Model Y.

Potential render of what it may look like

All of this was mentioned at Tesla’s Investors Day on March 1st with the new car likely to be called the Model 2. Completing the cipher of “2 S3XY” – denoting all of the current models.

Regarding the cheaper production costs, currently the cars being built require the vehicle to be assembled, then disassembled at certain parts so bits can be added on. With the new way, main parts of the car will be built by a team of robots and humans and then all marry up together, so the car is only built once so to speak.

What will it look like?

New Tesla designs

Whilst no formal images have been released of the car, this screenshot from a video published by Tesla on Twitter shows some designs of a smaller, hatchback style car. There are some interesting concepts, but they match the current design language.

https://twitter.com/i/broadcasts/1YpKkgddPrMKj

“So we’re confident that long-term we can design and manufacture a compelling $25,000 electric vehicle. This has always been our dream from the beginning of the company. I even wrote a blog piece about it because our first car was an expensive sports car, then it was a slightly less expensive sedan, and then finally sort of a, I don’t know, mass market premium, the Model 3 and Model Y. But it was always our goal to try to make an affordable electric car. And I think probably, like I said, about three years from now, we’re confident we can make a very compelling $25,000 electric vehicle that’s also fully autonomous,” said Elon Musk.

This was stated by Elon Musk and it shows the commitment Tesla has always had for producing a more affordable car. Fans and the general public have been crying out for a more affordable electric car and this may be it.

This comes just after Tesla have slashed prices of all of their cars for the second time this year, causing fluctuations in their share price. Clearly Tesla are once again trying to be market leaders. Given the success of the Model 3 for the brand, a cheaper, more affordable car may increase their market share even further.