Tesla Announces Three New EVs Including Compact Car With LFP Batteries

Tesla has announced three new electric vehicles with LFP battery packs as part of its long-term strategy paper. The announcement was made at its investor day event and builds on the company's Master Plan 3 presentations. In the "Battle for Transportation" chapter of the long-term strategy paper, Tesla references the $25,000 electric car that Elon Musk spoke about in 2020. The paper also includes Tesla's entry into the commercial/passenger van segment.

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Tesla shared a table that reveals battery capacity and chemistry for both current and future vehicles. The "compact" vehicle will have an LFP 53 kWh battery with a projected 42 million sales. The vans will have a high nickel 100kWh battery, and Tesla projects 10 million units in sales.

Tesla plans to create an electric bus with an LFP battery and 300 kWh battery size, with a projection of selling 1 million batteries. Overall, Tesla aims to sell 89 million vehicles.

The compact vehicle could be the Model 2 or Model Q. The high-nickel passenger van could have low-to-zero cobalt-nickel-manganese cathodes in production and development both in-house and at its suppliers.

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Tesla aims to almost double the sales of its best-selling models, the Model 3 and Y, with a production rate of 4 million units per year, of which 2 million are expected to come from its new Mexican Gigafactory. The rest will come from the Berlin and Shanghai gigafactories.

The compact car was specifically designed for the southern Asian markets. In 2020, Musk expressed interest in launching Tesla in India, but these plans were put on hold when the Indian government declined to provide subsidies for imported Teslas. Instead, the government is encouraging Tesla to invest in India and construct one of its Gigafactories within the country. Additionally, the Indian government is actively discouraging the importation of EVs from China, which was Tesla's initial strategy for entering the market.