Tesla Set to Release a $25,000 Vehicle Within the Next Three Years

Sep 23, 2020   

Tesla CEO Elon Musk announced that Tesla will release a $25,000 vehicle “within the next three years.”

Tesla’s core mission is to accelerate sustainable transportation for all. Musk has said in the past that his biggest issue is that Tesla’s vehicles are “too expensive.” He elaborated on this point further, stating that Tesla’s products can be as desirable as possible but if someone doesn’t have enough money then they simply won’t be able to purchase them.

The top issue presented at Battery Day was to make Tesla’s vehicles more affordable. Tesla will do this with numerous changes to its battery cells and manufacturing, utilizing technologies that will reduce the cost per kWh by a quoted 56%. Batteries make up the main cost of an electric vehicle, so with these changes it will be possible for Tesla’s vehicles to cost less to manufacture than a comparable internal combustion engine vehicle.

The vehicle will be fully autonomous, like the rest of Tesla’s lineup. Musk stated that it will be “compelling” and “comparable to or slightly better” than other vehicles in the same segment.

During the Q&A session, an audience member referred to the vehicle as Model 2 and wasn’t corrected — so we can assume Tesla’s $25,000 vehicle will be tentatively called Model 2.

Real Talk

We think that Elon was being modest about the vehicle’s specs, and we expect to see acceleration and range that’s on par with a Model 3 Standard Range Plus produced today.

As far as timeframe is concerned, we can expect to see the vehicle itself unveiled in 2022 if Tesla is targeting a late 2023 release. Tesla will likely receive a record number of orders, assuming they are able to build the vehicle at a $25,000 starting price.

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