Tesla Plans to Offer $25,000 EV Within 3 Years, Says CEO Elon Musk at Battery Day

Tesla Plans to Offer $25,000 EV Within 3 Years, Says CEO Elon Musk at Battery Day

During Battery Day today, Tesla CEO Elon Musk announced that—thanks to the company's development of battery cells—within the next 3 years the company will present an affordable electric vehicle.

Using an electric car as a vehicle is one of the most important components of the world's transition to sustainable energy and improving the climate situation. However, their high cost is the main obstacle itself. Tesla's team worked hard and long to achieve a reduction in the cost of producing batteries for their cars because this could reduce the final cost of the car.

During Battery Day, it was announced that the company was able to achieve a stunning 56% $/kWh reduction. Tesla also announced that within 3 years, the company will present a new model that will cost just $25,000.

This is incredibly good news for future Tesla owners. Although the car will be cheaper, its efficiency and range will not be affected, because, in addition to reducing costs, the company has achieved five times more energy, 16% more range, and six times more power.

Nevertheless, it is worth considering that Musk previously said that the new model would be developed only after the production of those already presented were launched, which means not earlier than 2021. It also remains unknown in which country or countries it will be developed, as Tesla’s R&D centers will be located in the USA, China, Germany and, according to the latest rumors, in India.

© 2020, Eva Fox. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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