The Cheapest Tesla Yet? Company Hints at New Compact EV

Ever since Tesla finally completed its "S-3-X-Y" lineup with the Model S, 3, X, and Y, rumors have persisted that Elon Musk and company would expand the Tesla family. First there were rumors of a sub-$25,000 EV to slot underneath the Model 3. Beyond a few passing comments by Musk, nothing has materialized yet, and not even a $35,000 version of the 3 ever got off the ground.

Between that and the persistently delayed Cybertruck and Roadster models, most observers were beginning to think Tesla would stay a four-car automaker for the foreseeable future. But wait—Tesla might have officially teased not just one future vehicle but two in its "Master Plan Part 3" presentation.

When looking through the presentation document via CarScoops, we came across a page showing Tesla's full vehicle lineup including the new Semi and the upcoming Cybertruck. The graphic also included two mystery vehicles, each one depicted beneath a sheet.

Above the images is a table detailing how battery pack types could be distributed among a global fleet of EVs with the table being separated by vehicle type and a column for "Tesla Equivalent." There is a Tesla equivalent mentioned for the categories labeled compact, commercial/passenger vans, and bus—segments, you might notice, Tesla conspicuously isn't involved with at present. That bus mention, of course, makes for a third possible "TBD" future Tesla model, by our count.

But only the two sheet-shrouded mystery EVs are shown on screen. One glance tells us that neither one of the sheeted cars is bus-sized, so we're inclined to believe that it's the compact car and passenger van possibly being teased. If you look very closely you can even just make out a wisp of the front bumper on the compact car peaking out from underneath the sheet. Obviously, this is hardly confirmation that a Tesla van and its mythical $25,000 compact are imminent. We're speculating based on the facts and what the automaker has shown us.

We also have to consider the fact that Tesla is no stranger to announcing vehicles and then constantly pushing them back. If Tesla does have an affordable compact EV in its future, that vehicle has the potential boost the adoption rate of EVs, especially if it meets the new tax credit rules. That is undoubtedly a prospect that has our interest. While history has taught us not to hold our breath for any new Tesla, and given how we've been over this territory before with the $25,000 Tesla, we're still going to keep an eye open.