Tesla’s long-awaited entry-level electric car is finally set to enter production next year, giving the firm a foothold in the increasingly competitive sub-£25k sector.
The ‘Model 2’, as it is known, has been on the cards for years. Tesla CEO Elon Musk confirmed development was under way as long ago as 2020, but it was not until late last year that the first details began to trickle out and the firm announced plans to start building it in 2025.
Being developed under the codename ‘Project Redwood’, the secretive new model has a crucial role to play in helping Tesla defend its hard-won position among the world’s leading electric car manufacturers, having been knocked off the top spot in the final quarter of 2023 by BYD.
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