While anticipation builds for the Model Y refresh, CEO Elon Musk has repeatedly referenced affordable models coming in 2025 to compete with Chinese EVs. Enter Model Q?

Will Tesla's new, affordable electric vehicle be called Tesla Model Q? Don't hold your breath for the name, but a cheaper Tesla is, apparently, coming. A Deutsche Bank report mentions the new model and claims the car will launch in the first half of 2025,

Tesla's most affordable model yet is set to release in the first half of 2025 according to a report from Deutsche Bank. It will be unique from the Robotaxi and will use an existing chassis.

These rumors apparently come from reports from China stating that during an investor meeting with Deutsche Bank, Tesla's head of investor relations, Travis Axelrod, apparently confirmed the company's formal plans to launch a new vehicle called the Model Q in the first half of next year.

Rumors about a Tesla Model Q, a sub-$30,000 electric car, are emerging in China as the automaker is expected to unveil a few cars early next year. Earlier this year, we reported that Elon Musk had canceled plans for new, cheaper Tesla vehicles built on the new ‘unboxed’ platform, often referred to as “the $25,000 Tesla.”

There was no mention of the new Tesla model during the announcement of the Tesla Cybercab and Robovan back in October, leading many to believe that the Tesla Model 2 – as it was then thought to be named – had been canned.

Tesla is planning to launch a more affordable model, possibly called the Tesla Model Q, with a starting price under $30,000, according to a report from Deutsche Bank.

A Deutsche Bank report claims a new, more affordable Tesla model is coming in 2025, while a stretched, three-row Model Y is also in the works.

Elon Musk refuted reports that the plan to offer a more affordable Tesla had gone kaput and promised that it is still coming and sooner than previously planned, just not as an all-new revolutionary car but as a mashup of several existing components and ideas.