Will Tesla 's new, affordable electric vehicle be called Tesla Model Q? Don't hold your breath for the name, but a cheaper Tesla is, apparently, coming. A Deutsche Bank report mentions the new model and claims the car will launch in the first half of 2025, with a starting price under $30,000.

Rumors about a Tesla Model Q, a sub-$30,000 electric car, are emerging in China as the automaker is expected to unveil a few cars early next year. Earlier this year, we reported that Elon Musk had canceled plans for new, cheaper Tesla vehicles built on the new ‘unboxed’ platform, often referred to as “the $25,000 Tesla.”

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.