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Tesla Plans $25,000 Electric Car in About Three Years, Musk Says | Happening Today

Tesla Plans $25,000 Electric Car in About Three Years, Musk Says | Happening Today

(Sept. 22) Tesla Inc. plans to manufacture a car that will cost $25,000 in about three years’ time, fulfilling an elusive long-term objective to sell a cheap mass-market vehicle, Chief Executive Officer Elon Musk said Tuesday.

“This has always been our dream from the very beginning,” Musk said at his company’s “Battery Day” event showcasing its technology. “In about three years from now, we are confident we can make a compelling $25,000 electric vehicle that is also fully autonomous.”

Musk, 49, is teasing prospects for a cheaper mystery model without ever having really delivered on the $35,000 price point he had long promised for the Model 3. Three years after Tesla started taking orders for the car in early 2016, the CEO announced plans to close most of Tesla’s stores as a cost-saving measure, allowing him to offer the car at that cost. He backtracked 10 days later, and the cheapest Model 3 available now is $37,990.

Musk also said Tesla will make battery cells at a plant under construction in Berlin, where it also plans to assemble vehicles.

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