Tesla is developing a new smaller, cheaper EV, Reuters sources say [CNBC]
Tesla, Inc. (TSLA)
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Source: CNBC
Tesla is developing an all-new smaller, cheaper electric SUV, four people familiar with the matter told Reuters. The automaker has contacted suppliers in recent weeks to discuss details of the plan for the compact SUV – which would be a new vehicle and not a variant of Tesla's current Model 3 or Y, the people said. The conversations involved the manufacturing process and specifications for various components, they said. Three of the people said the compact SUV would be produced in China, and one said Tesla also aims to expand production to the United States and Europe. The car would be 4.28 meters in length, or about 14 feet, two of the sources said. That's significantly shorter than Tesla's top-selling Model Y SUV, which is about 15.7 feet long. The effort follows a decision by Chief Executive Elon Musk to scrap a highly anticipated low-cost EV project in 2024 and pivot the company to focus on robotaxis and humanoid robots. A key question is whether this latest effort to devel
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