Toyota Corolla Hybrid is safe for now! Tesla's shocking update on its $25,000 small electric car that promises to bring total autonomy to the masses.

The small hatchback of the so-called "Model 2" will be placed under the mid-size "Model 3" sedan - if it is realized.

Want to buy a new all-electric vehicle (EV) but keep finding that even the cheapest ones are still prohibitively expensive? Well, electric vehicle specialist Tesla is aiming to fix this problem, but not anytime soon, if ever.

As reported, in September 2020, Tesla announced plans to launch a $25,000 "European style" small hatchback (35,562 AU$2023) around the end of 2. with the main ruler naming convention.

Besides Coach a report last June that claimed the Model 2 would target the Nissan Leaf, Hyundai Ioniq Electric and Volkswagen ID.3 with a new battery that is 50 percent cheaper to manufacture and delivers 16 percent more range, has since we heard little. until now.

In a Q&A session following the announcement of Tesla's Q4 2021Q financial results, founder Elon Musk provided a belated update on a supposedly fully autonomous XNUMX model that could give potential Toyota Corolla Hybrid buyers something to think about.

“We are not currently working on a $25,000 car,” he said. “Someday we will do it. But we have enough to do right now — frankly, too much to do.”

Needless to say, the Model 2 is nothing more than an idea at this point, with Tesla currently focusing on the Cybertruck full-size pickup, the Roadster sports car, and the Semi truck, which have also been delayed multiple times. .

Speaking of which, Mr. Musk revealed that Tesla has no plans to launch new models for 2022, which means the Cybertruck, Roadster, and Semi won't be released until 2023.

This, of course, means that the Model 2 may not arrive until 2024 or beyond, if at all. And this is for key markets such as North America and Europe. Australia tends to be at the back of the line, so a local debut could take place towards the end of this decade.

Meanwhile, the Model 3 midsize sedan is the most affordable Tesla model Australians can buy, with its entry-level variant starting at $59,900 plus travel costs, although EV incentives are available in every state.