Electric vehicles are becoming increasingly popular because they are more cost-effective and have lower maintenance costs than gasoline-powered vehicles. However, they are also more expensive to purchase upfront. Elon Musk's upcoming “Affordable Tesla” project aims to solve this problem by making electric vehicles more affordable. Here are the details…
Affordable Tesla Could Revolutionize the Electric Vehicle Market
Tesla manufactures its vehicles globally with factories known as Gigafactories, located in Nevada, Shanghai, Texas, and Berlin, to serve customers worldwide. Recently, the Berlin factory has gained attention for an intriguing claim. According to reports, the company, aiming to produce affordable electric cars, will soon begin production in Germany.
The cost of the budget-friendly Tesla model will be 25,000 Euros. To put this price into perspective, in 2023, the average electric car price in Europe is around 65,000 Euros. Even in the world's largest electric car market, the price hovers around 31,000 Euros, despite competition from manufacturers like BYD and Xpeng.
Unfortunately, the individual who leaked the news of the affordable Tesla didn't provide further details regarding the matter. Therefore, we do not know when production will start and where the vehicles will be initially sold. Nevertheless, speculations point towards the highly competitive Chinese market as a likely starting point.
China's EV market continued its strong growth in October 2023, with sales hitting a new record. The China Passenger Car Association reported that EV retail sales in October reached 640,000 units, up 95.3% year-over-year. This is the highest monthly sales figure for EVs in China to date. BYD remained the top-selling EV brand in China in October, with sales of 301,095 units. This was up 5% from September and 38.4% from a year earlier. Tesla was in second place with sales of 72,115 units, down 2.6% from September but up 0.6% from a year earlier.