Tesla's $25,000 EV Is Coming in Three Years
A new, cheaper model will be joining Tesla's model range in a few years, CEO Elon Musk announced during his company's "Battery Day" event Tuesday.
Standing onstage next to Tesla senior vice president of powertrain and energy engineering Drew Baglino, Musk said a $25,000 electric car would be available from the automaker in under three years. The announcement came after the news of Tesla's goal to cut the cost per kilowatt-hour for its battery cells in half.
“We’re confident that long-term we can design and manufacture a compelling $25,000 electric vehicle,” Musk said.
It's unclear what kind of car Tesla would be building for this segment, but it'd likely be something smaller than the automaker's “mass-market premium” vehicles, the Model 3 and Model Y. Even though it's slated to be a bit more affordable, it'll still have the same Autopilot capabilities as the rest of the lineup.
“This has always been our dream from the beginning of the company," Musk said.
Baglino was also quick to add that a $25,000 electric car would be cheaper than an internal-combustion vehicle because of the reduced costs associated with ownership.
“When you think about the $25,000 price point, you have to consider how much less experience it is to own an electric vehicle," Baglino said. Actually, it becomes even more affordable."
Shortly after the announcement of new affordable model, the duo shared details of the long-awaited Model S Plaid.
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