Tesla is planning to build a new electric car model that will be priced at around $25,000 from its factory near Berlin, Reuters reported Monday, making it the company’s cheapest offering that could allow it to compete against budget EV makers from Europe and China.to Reuters, Tesla is aiming for a $26,800 price point for the car, although it is unclear if it will be an entirely new model or a cut-down version of an existing one.
The plan to build this lower-priced car was reportedly discussed last week when Tesla CEO Elon Musk visited the Berlin-Brandenburg Gigafactory located in Gruenheide, which makes the Model Y. The company believes it is close to achieving a manufacturing breakthrough that would allow it to cast the underbody of its cars as a single piece, resulting in lower costs, the report added.Musk has long hinted at a plan to build lower-cost electric vehicles but his company has stopped short of actually unveiling any concrete plans. But the latest reports come amid a slew of new low-cost EVs entering the EU market.
Source: News Formal (newsformal.com)
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Elon Musk reportedly told German workers Tesla will build low-cost car thereSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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