At last! Tesla to finally take aim at the budget Chinese brands with $45k Model Y and Model 3 variants – reports

Tesla at last seems ready to make good on its promise of cheaper EVs, with the brand reportedly ready to tackle the Chinese newcomers with genuinely affordable electric car options based on its existing models.

That’s according to US outlet Automotive News, where reports suggest the models will go into production in Q2 next year, and will be priced to take on the likes of BYD, MG and any number of other newcomers.

How much, you ask? According to the publication, the brand is targeting a US$30,000 price point, which would translate to around $45,000 in Australia. That would put it line-ball with products from BYD and others, and would also undercut new product from Smart.

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Rather than all-new models, the site suggests Tesla will use the Model Y and Model 3 platform to built pared-back versions of its most popular cars, which presumably means smaller batteries and fewer features.

That would represent a pretty big saving on the brand’s current models in Australia, with both the Model 3 and Model Y starting at around $55.

“The lower-priced variant of the Model Y will begin production in April 2025,” Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, told Automotive News.

“While the starting price is said to be under US$30,000, significant differences between it and the Model Y, such as range and interior space, will be needed to not siphon off sales from the popular — and more profitable — Model 3 and Model Y.”