Tesla put the Philippine EV market on notice with its shockingly competitive prices, during its launch earlier in November. In its home market of the USA, Tesla EVs are able to sell at accessible price points, thanks to the government’s tax credits and consumer incentives for purchasing EVs that reduce actual pricing by around $7,500 (around P437,000).
In 2025, Tesla could get even more competitive with an entirely new EV, currently dubbed the ‘Model Q.’ In a Deutsche Bank report shared by Carscoops, Tesla is expected to price the Model Q around $37,499 (P2.2 million), or $30,000 (P1.75 million) after the tax credits and incentives. It joins the Model 3 as the most accessible Tesla models in the United States.
Locally, the Tesla Model 3 and Model Y are priced somewhere between the full retail price and the price after tax credits. That creates a real possibility that if Tesla decides to bring the Model Q to the Philippines, it could sell for well under P2 million. Currently, the most affordable Tesla sold here is the P2.1 million Tesla Model 3 RWD.
OTHER STORIES YOU MIGHT HAVE MISSED:
PH’s first Tesla Supercharger station is now open at Uptown Mall; charging costs P19/kWh
Lexus still most reliable luxury brand, Audi top-rated Euro brand for dependability
For those who regularly follow Tesla, this may sound similar to the rumored Tesla Model 2 that broke the news in April this year. The Model Q essentially follows the same footprint as the Model 2: Creating a mass-market Tesla in the $30,000 (P1.75 million) range.
Interestingly, the Model 2 is allegedly scheduled to start production in the first half of 2025—which is around the same time Deutsche Bank said the Model Q would start manufacturing. With 2024 coming to a close, it looks like the market will not be waiting that long to see the newest Tesla.
The report did not disclose what shape or performance the Model Q would take form. Its closest comparison (at least in price) would be the Model 3, so perhaps a more basic version of Tesla’s friendliest sedan will hit markets sometime next year.
