The American manufacturer Tesla is reportedly working on the development of an entry-level vehicle which would cost US$25,000 (around CAN$34,000), according to the Reuters agency.
Citing three sources in support, the article specifies that the project, internally named Redwood, would seek to make Tesla more competitive against, among others, the Chinese BYD which supplanted its American rival in terms of sales of electric vehicles last year. quarter of 2023 (525,409 units).
Production of a compact crossover would begin in June 2025, according to Reuters. This model would be based on a brand new architecture called NV9X which could serve as the basis for “two or more models”.
Aware of the challenge, Tesla engineers reportedly took apart a Honda Civic to study its design. Tesla’s big boss, Elon Musk, also declared last May that the manufacturer was working on developing two new models whose combined sales potential would reach 5 million units annually. The target is therefore rather high.