Tesla To Make Affordable Cars Of $25K

In the ever-evolving automotive industry, Tesla stands out as a trailblazer with its groundbreaking technology and visionary approach. The company offers a range of car models, including the famous Model X and Model Y. Recently, Tesla adjusted the prices of its Model Y and Model 3 variants, as reflected on their official website. Presently, the base price of the Tesla Model Y starts at $47,490, while the Long-Range crossover and Performance variant are priced at $50,490 and $54,490, respectively.

During Tesla's annual shareholder meeting, outgoing CEO Elon Musk unveiled exciting information about two upcoming electric vehicles (EVs). Musk hinted that one of these EVs is already in the manufacturing process. According to reports from TechCrunch, quoted by IANS, it is speculated that one of these vehicles might be the highly anticipated $25,000 hatchback that Musk had previously mentioned during the company's battery day in 2020.

Tesla is currently developing an affordable model aimed at competing with cars such as the MG 4 and the upcoming Volkswagen ID.2. The technology behind this new model was unveiled during an Investor Day in March. By implementing a creative manufacturing process and incorporating new electronic components, the production cost of this model is expected to be approximately 50% lower than that of Model 3 and Model Y.

Elon Musk, self-proclaimed 'Technoking' of Tesla, provided some insights into this innovative manufacturing process, which he believes will significantly reduce production costs compared to the Model 3 and Model Y., Unlike the traditional approach where cars are assembled and disassembled during the production line, the new platform has been designed with simplicity in mind.

Teams consisting of humans and robots will collaborate to fully assemble separate parts of the car and seamlessly integrate them in one go, eliminating the need for repeated assembly and disassembly. Musk asserts that this streamlined process will result in a 30% improvement in time, space, and overall efficiency. Musk emphasized that the company is actively engaged in the development and design of new products, rejecting any notion of complacency. He underscored Tesla's superiority in both product design and manufacturing techniques, positioning them ahead of their industry peers.

According to an IANS report, Tesla had previously teased the introduction of two new models during its Investor Day in March. Musk expressed confidence in the high demand for these vehicles, projecting a combined production of over 5 million units per year.

conclusion

In terms of succession planning, Tesla's board clarified during the meeting that there were no immediate plans for Musk's replacement. Musk himself affirmed his intention to remain as Tesla's CEO, citing the company's pivotal role in artificial intelligence (AI) and artificial general intelligence (AGI) as his motivation to oversee its progress in these fields. Musk firmly believes that his ongoing involvement is crucial to ensure positive outcomes.

After the meeting, Tesla's stock exhibited a relatively stable performance, with a modest 1% increase in after-hours trading, as reported. Shareholders eagerly await the launch of the new electric vehicles, and the meeting served as a source of reassurance, reaffirming Tesla's dedication to technological progress and the continued guidance of Musk in shaping the company's future.