Musk claimed that there was a clear route to produce and deliver an automobile for half of the price of the Tesla Model 3 Sedan and that it would typically run in autonomous mode. Elon Musk, the CEO of Tesla, stated on Tuesday that the company’s upcoming compact car would run primarily in autonomous mode, keeping with a pledge he made in 2020.
He said on Tuesday that it was possible to produce a car for half the price of Tesla’s Model 3 coupe, but he provided no information regarding the timeframe or specific models.
Tesla Model 3 Will Be Released Soon
Musk declared at the 2020 conference that Tesla Inc. (TSLA.O) would produce a compact, alluring $25,000 Tesla Model 3 with full autonomy in roughly three years. Even by end of the decade, Elon Musk hopes to sell 20,000,000 Tesla cars annually. So it was odd that its eagerly anticipated plans for a cheap electric car were a total no-show at Tesla’s newest master plan announcement in Texas the other week.
A more affordable Tesla would be a definite way to attract a new group of potential buyers. Instead, Tesla’s CFO declared at the event that the company would concentrate on the “efficiency” that is currently highly popular in Silicon Valley in order to raise the $175 billion needed to make the required expenditures to reach its 20 million-car-per-year ambition.
At a Morgan Stanley conference last week, Tesla’s CEO Elon Musk hinted that there was a “clear path” to “a smaller car that is half the cost of production of the Tesla Model 3,” the company’s entry-level model with a starting price of about $43,000.
Even said, it is evident that Tesla still has a bit of a way to go before achieving Musk’s objective given that it delivered almost 1.3 million cars last year. How exactly should it begin in order to become more effective? With batteries, arguably the most costly EV element of all.