“(Electric vehicles) much more affordable would make a lot of sense. (Tesla) has to do it,” said Elon Musk, excerpted from the YouTube show B20 Indonesia 2022 (11/15/2022).
However, he did not disclose further about product development, launch plans, or prices.
Previously, at the company’s third quarter meeting last October, Elon Musk revealed details about the new platform that will be used to make low-cost electric cars.
Elon Musk says the next platform will be smaller than the base Model 3 or Model Y, and roughly half the price of the one currently retailing from $45,000.
Even so, he did not explain in more detail when asked when Tesla’s “cheap car” would be launched and how much production costs could be cut.
He just said that this new platform is currently the focus of the new vehicle development team. Meanwhile, the production volume of the new model will reportedly exceed the achievements of the Model 3 and Model Y, which now contribute 95 percent of Tesla’s sales in the second quarter of 2022.
Rumors say that this cheap electric car will have a price tag of around US$25,000.