Tesla Model Q? Sub-$50,000 Tesla electric car due to arrive in 2025 to fight new wave of Chinese cars such as BYD Sealion 5, Atto 3, MG S5 EV and more: Report

Tesla’s much hyped and cancelled cheaper model is now due to arrive next year, according to reports.

A new report from Deutsche Bank said the American electric car company’s head of investor relations Travis Axelrod confirmed the new model will arrive as early as the first half of 2025.

It is unofficially called Model Q according to US publication Car and Driver.

The Deutsche Bank report, seen by InsideEVs, claimed the new model will be priced at less than US$30,000 (A$47,000). 

That figure also includes the $7500 tax credit in the US, which when removed would push the car closer to the Model 3’s price Down Under.

There is a strong chance this new Model Q isn’t an all-new model but rather a more affordable Model 3 with a smaller battery and less features.

Tesla had previously flagged a new entry-level model will make use of a 53kWh battery, while also utilising a more streamlined manufacturing process that should save on both time and cost.

There have been numerous reports Tesla had boned its new cut-price vehicle, dubbed the Model 2.

The long-hyped Model 2 was expected to be priced about $40,000 in Aussie currency, but Tesla boss Elon Musk has called a non-self driving sub-$40,000 Tesla pointless and silly.

Despite that, Reuters reported in November the cheaper Tesla was slated to be produced at the company’s German factory.

According to Reuters' sources, Tesla is pioneering a new manufacturing process that will drastically reduce production costs, allowing for the bargain-basement pricing on the Model 2.

Tesla does have a history of making statements on new models and timelines, which change drastically.

The Cybertruck landed on US roads about four years after it was first revealed. The Model 3 was first mentioned in a 2006 interview, but launched in 2017.

Tesla has been taking deposits on its second-generation Roadster. The Roadster was first revealed, and money taken from would-be buyers, way back in 2017 at the same event the Semi was revealed.

It is no small amount of money either. In Australian currency, Tesla requires you to pay $7000 via credit card followed by a $59,000 bank transfer 10 days after to secure your spot.

Initially, Tesla claimed the Roadster would arrive by 2020, but despite the pandemic being blamed for delays it is still seemingly no closer to production.