According to Reuters, Tesla last year sent out requests for quotations or invitations for tenders for the model, codenamed ‘Redwood’, and the carmaker indicated that it was aiming for a weekly production of 10,000 vehicles. The model was described as a compact crossover.
Tesla CEO Elon Musk had initially promised to build an electric car in 2020 with a price tag of $25,000, but then shelved those plans. Tesla’s cheapest model, the Model 3, retails in the US from $38,990.
Last year, Tesla lost its title as the world’s largest manufacturer of electric cars to China’s BYD (Build Your Dreams), which offers a wider range of cars, from budget models to high-priced luxury cars.