Elon Musk reveals key info about the next generation of Tesla’s small electric car


Tesla is determined to expand its dominance in the electric vehicle (EV) space, and CEO Elon Musk knows a diverse lineup, including more affordable EVs, could be the trump card. While he previously confirmed that something more affordable than the current most affordable Tesla Model 3 would be ideal, he has now also revealed some key information about the small electric car.

FILE PHOTO: The Tesla logo is seen on a vehicle on display in Austin, Texas.  (Associated Press)
FILE PHOTO: The Tesla logo is seen on a vehicle on display in Austin, Texas. (Associated Press)

Tesla is working on a new electric car that Musk says will cost half as much to manufacture as the Model 3. He also confirmed that the product will run primarily in autonomous mode, but that’s where he’s going, without sharing any timeline. But even those two key pieces of information are important, as Musk also recently highlighted Tesla’s How electric vehicles are desirable for all but unaffordable for many.

Also read: You want a Tesla, but can you afford it?

It’s this focus on affordability that’s important to Tesla as it looks to tap into new markets and meet its ambition to produce 20 million electric vehicles a year by 2030. The U.S. electric car giant has been looking for a new production base and is reportedly closing a deal with Mexican authorities for what it says is the world’s largest electric car factory.Musk also said that there is enough reason for the price of a Tesla electric car to be around $25,000 (approx. ¥2.052 million).Currently, the Tesla Model 3 is the company’s cheapest car, priced at around $43,000 (approx. ¥3.5 million). The company has announced multiple price cuts in the U.S., China and other markets to further lure potential buyers, prompting many rivals to follow suit. But to break into new markets, especially those in the developing world, Tesla will have to pay close attention to its pricing structure, and in that sense alone, its upcoming small electric car is crucial.

(Input from Reuters)

First published date: March 8, 2023 at 12:06pm CST


Leave a Comment