Tesla (TSLA) Rises as Model Q Expected to Launch Next Year

Dec 10, 2024

Tesla (TSLA, Financial) shares increased by over 2%, reaching $397.73. During a Deutsche Bank conference, Tesla's investor relations head, Travis Axelrod, revealed plans to deliver the affordable Model Q in the first half of next year. The new vehicle, internally codenamed Redwood, will be 15% smaller and 30% lighter than the current Model 3. Previously, Tesla founder Elon Musk mentioned in an earnings call that, with electric vehicle incentives, the anticipated price for this affordable model will be around $30,000.

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