San Francisco, Jan 2 (IANS): Elon Musk-owned electric vehicle company Tesla is expected to unveil its $25,000 Model 2 car in 2024, the media reported.

TSLA analysts at Loup Ventures predict that the Model 2 will be released in 2024, reports Teslarati.

"Tesla will wait until 2024 to announce Model 2," Loup Ventures stated in its 2022 Predictions letter.

"If the company announces the lower-price[d] car too early, they risk slowing sales of Model 3 while ramping capacity during what is likely to be a broader auto recession," it mentioned.

Moreover, it is also expected that Tesla's Model 2 preview will be released in early 2024, and production will begin in mid-2025, according to the report.

Additionally, the Model 2 will likely be either a compact car or a subcompact vehicle, which is a popular design in Europe and Asia, the report added.

Meanwhile, Tesla has also announced the upcoming launch of Model S and Model X in China, with pricing to be revealed on Friday and deliveries in the first half of this year.

Since the automaker halted production in January of 2021 to revamp the cars, the Model S and Model X have not arrived in China, reports Electrek.

"The two performance monsters will officially announce the price on January 6. The deliveries start in the first half of 2023," the company said in a statement.