Electric cars continues to gain popularity and this has led to increase in production capacities and reduced costs. Major manufacturers such as Volkswagen and Ford have taken advantage of this and have produced relatively affordable models. When this happens, attention turns to Tesla, the first name that comes to mind when thinking about electric vehicles. So, will we see an affordable Tesla model in the near future? Here are the details…
As you know, Tesla is a publicly traded company and holds meetings with its shareholders at certain times of the year. The upcoming event is the “Tesla Investor Day” scheduled for March 1. Tesla may unveil a new low-cost EV platform at this event. During Tesla’s Q3 earnings call in October last year, CEO Elon Musk revealed that the new platform will be smaller in size than the Model 3/Model Y platform.
He also indicated that the company will work to reduce costs. This will be the third vehicle platform for Tesla, following the trajectory of its “Master Plan,” which aims to shift the company from high-cost/low-volume designs to low-cost/high-volume designs.
The first platform was for the Model S and X, and the second platform is used for the Model 3 and Y. Unfortunately, there is no information about the expected affordable Tesla models. However, some analysts claim that these cars will start at $25,000.
So, if Tesla is indeed working on a low-cost car, why hasn’t any information been leaked yet? The answer is simple: the new model is likely still in the design and planning stage and there may still be a long time before it goes into production.
As a comparison, Elon Musk introduced the CyberTruck in 2019 and started pre-orders, but the car has not yet been released. A similar situation may occur with these affordable models. We will see on March 1 whether all these gossips are true or not.