Tesla teases two new EVs; one could be the cheapest-ever from brand

Tesla is the global leader when it comes to electric vehicles but in recent times, has been facing increased competition from rivals, especially in markets like China and the US where EV adoption is rising rapidly. The American company may still enjoy quite a substantial lead in terms of sales but its lineup of models have not seen any fresh offerings in some time now. All of that may change as the much-delayed Cybertruck is being giving finishing touches and the company has now also teased two new EVs.

US media reports highlight how ‘Tesla Master Plan Part 3’ is extremely crucial and that as part of it, the company teased two new EVs, both of which were completely under wraps. It is being speculated that while one of these is a van-based all-electric model, the other - based on the silhouette - could be a compact vehicle. This compact EV was previously confirmed in 2020 and may be primarily targeted at emerging markets where Tesla is looking at making inroads in the times to come.

Tesla CEO Elon Musk has some mighty ambitions and has previously admitted that there needs to be a more affordable Tesla, one that is cheaper than Model 3. He has also highlighted how this model could potentially help Tesla gain a solid foothold in emerging and developing markets across the globe.

At present, the Tesla Model 3 is the best-selling EV from the company with impressive numbers coming in from the US as well as China, the world's biggest EV market. But in China in particular, Tesla has been facing enormous heat from local rivals with companies like BYD and SAIC making some very notable moves. Tesla has had to offer discounts which eventually led to its rivals offering discounts as well.