Tesla to Produce Affordable Hot Hatch in 2023

Tesla has become one of the biggest automakers in the electric vehicle space. The company took a bet on electric vehicles and clean energy in 2003, and it has paid off in a major way. Now the automaker is leading the charge as the industry shifts to clean energy in the coming decades. One of the biggest issues with the company is its high entry point price, but the electric vehicle brand is looking to change that in 2023.

Tesla’s expensive past

Tesla booth during the 34th International Electric Vehicle Symposium and Exhibition at the Nanjing Air-hub International Expo Center on June 25, 2021 in Nanjing, Jiangsu Province of China.
Tesla booth at Electric Vehicle Symposium in China | VCG via Getty Images

Tesla’s first vehicle was the Tesla Roadster. The company sought to make a fully electric sports car. The Roadster started at $109,000 when it debuted in 2008. It was unique, but it was far from affordable for the average consumer.

The Tesla Roadster was able to go 245 miles on a single charge. Its performance rivaled gas-powered sports cars in acceleration and top speed. The Roadster was a success, but its high price offered no entry point to the brand for working-class Americans.

The company continued to its next project, the Model S, after its founders Martin Eberhard and Marc Tarpenning moved on, leaving Elon Musk as the CEO. The Model S was significantly cheaper than the Roadster but still cost thousands of dollars more than the average vehicle in its class. Like the Roadster, its specs were amazing, but Tesla’s vehicles were still considered luxury vehicles due to their high price point.

Conquering American roads

A red Tesla Model 3.
The Tesla Model 3 | Tesla

The automaker’s lineup has expanded to four vehicles in 2021, including the Tesla Model S, Model 3, Model X, and Model Y. The most affordable models are the Model 3 and Model Y, starting at $39,990. The most expensive model is the company’s Model S Plaid, starting at $129,990.

Tesla has made amazing strides in bringing other vehicle classes and more affordable models to market. Some models now actually cost less than the average price of other new vehicles in their class. The American automaker still has other tricks up its sleeve to dominate the market.

Thus far, Tesla has had no issue with producing flashy, high-performing electric vehicles. The inclusion of the Model 3 and Model Y has also made Tesla more accessible to the average consumer. What Tesla has yet to produce is a model that the majority of Americans can afford. Fortunately, consumers will not have to wait much longer.

Tesla’s affordable hot hatch

According to InsideEVs, a Tesla hatchback can be purchased as soon as 2023. What’s even more shocking is the vehicle’s price. It is expected to start at only $25,000. This would be the cheapest model the company ever produced by close to $15,000. Furthermore, The hatchback would be priced to compete with major automakers that have historically dominated the affordable vehicle market like Honda, Toyota, and Nissan.

This is the most exciting Tesla development for the average consumer because the hatchback won’t cost much more than popular, affordable vehicles like the Nissan Altima and Honda Accord. Average folks that had to avoid the company’s high price tags will soon be able to afford one of America’s hottest EV brand’s models. The hatchback probably won’t share other Tesla models’ range and amazing performance, but it will provide an entry point for millions of consumers in America and worldwide. If you thought Teslas were beginning to dominate the roads now, wait until 2023.

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