"Tesla is developing an all-new compact electric SUV that will not be a stripped-down version of the current Model 3 or Model Y, according to reports. This move comes as the company faces slumping global sales and profits amid increasing competition in the electric vehicle market."
"The compact SUV is expected to measure 4.28 meters in length, making it nearly identical to the new Chevy Bolt. It will feature a smaller battery and a single electric motor, which will significantly reduce its cost compared to the Model Y and Model 3."
"Currently, Tesla's Model 3 and Model Y start at $37,000 and $40,000 respectively, while competitors like the Chevy Bolt and Nissan Leaf are priced under $30,000. The introduction of a more affordable Tesla SUV could change the dynamics of the EV market."
Tesla is working on a new compact electric SUV that will not be a stripped-down version of the Model Y or Model 3. This vehicle aims to be truly affordable, addressing the company's need to boost sales amid rising competition. The compact SUV will measure approximately 4.28 meters in length and will feature a smaller battery and single electric motor, making it cheaper than current models. The introduction of this vehicle could significantly impact Tesla's market position, as none of its existing models are considered affordable.
Read at insideevs.com
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