During the company’s financial report, Tesla CEO Elon Musk confirmed the arrival of a new electric car, the Tesla Model 2. It is an affordable car that will cost less than the Model 3, and which should arrive on the market in the first half of next year.

Last year, a teaser was released showing a car with a curved roofline and similar design to the Model Y SUV and Model 3. The Model 2 is also expected to look a bit like the facelifted Model 3 with slimmer headlights compared to Tesla’s older models. It should be positioned as a rival to conventional family hatchback models with a size of around 4.4 meters, and this could be achieved with a more aggressive rear roofline.

The car will be produced on the same production lines as the current models. This will not achieve the projected savings, but it will provide an opportunity for the company to increase the volume of vehicles in a more efficient way during uncertain times. “This should help us use the maximum capacity, which is close to three million vehicles, and enable a growth of more than 50 percent compared to production in 2023 before investing in new production lines,” the company said.

The Tesla CEO also said that this car will use everything the company learned during the development of the Model S, X, 3 and Y, as well as the Cybertruck and the Semi truck.

Source: Tesla