business / news / / CNBC
Tesla is developing an all-new smaller, cheaper electric SUV, four people familiar with the matter told Reuters.
Tesla is developing a new compact electric SUV distinct from the Model 3 or Y.
KEY POINTS
- The new SUV is planned to be 4.28 meters long, significantly shorter than the Model Y.
- Production is expected to start in Shanghai, with possible expansion to the US and Europe.
- Tesla aims to price the SUV below the Model 3 by using a smaller battery and single motor.
- This project marks a shift from Tesla's recent focus on robotaxis back toward mass-market EVs.
COMPANIES
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