Tesla to manufacture US$24k Model 2 EV at new India Gigafactory - Report ^↺

Rumours of an upcoming affordable Tesla compact electric car, tentatively named the Model 2, have been making their rounds on the internet over the last few months, with much excitement abound over a more affordable Tesla EV coming to market. More recently, a new report from The Times of India indicates that Tesla's CEO, Elon Musk, is in talks with the Indian government to open a new production facility for the Model 2 in India. 

The new facility would purportedly produce up to 500,000 vehicles annually once complete, and the report also indicates that Tesla's upcoming Model 2 will be priced at around INR(₹) 2 million (US$24,380) — a pricetag that would make it the cheapest Tesla to date, and would put it in competition with the likes of the recently-cancelled Chevrolet Bolt EV. It's up in the air as to when the new Tesla will start production in India, or if it will at all, but a manufacturing facility in India could give Tesla a substantial boost in regards to vehicle availability.

After spending more than a decade in the premium vehicle segment, Tesla finally appears to be taking the lower-end seriously. The company is slated to complete its Gigafactory in Mexico within the next two years, where it will also reportedly focus on Model 2 production. In Mexico, it's estimated Tesla will produce in the order of 2 million Model 2 units per year. 

As for the design and specs of the upcoming Model 2, it's said to be akin to a smaller Model Y, putting it firmly in fastback sedan territory. The Model 2 is expected to arrive with a 53 kWh LFP battery pack and is said to be around 30% lighter than Tesla's existing Model 3. As a result, it's expected to deliver around 270 miles of range from a single charge. The combination of a cheaper, more efficient platform, smaller battery, and lighter vehicle is an exciting prospect for potential EV buyers.

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