Electric cars are becoming increasingly popular as they are more cost-effective and have lower maintenance costs than gasoline-powered cars. However, they are also more expensive to buy upfront. Elon Musk’s upcoming project, Affordable Tesla, aims to solve this problem by making electric cars more affordable. Here are the details…
An affordable Tesla could revolutionize the electric car market
Tesla manufactures its cars around the world in factories known as Gigafactories located in Nevada, Shanghai, Texas, and Berlin to serve customers around the world. Recently, the Berlin plant attracted attention with an intriguing announcement. According to reports, the company, which aims to produce affordable electric vehicles, will soon start production in Germany.
The cost of a budget Tesla model will be 25,000 euros. For comparison, in 2023, the average price of an electric car in Europe will be around 65,000 euros. Even in the world’s largest electric vehicle market, the price hovers around 31,000 euros, despite competition from manufacturers such as BYD and Xpeng.
Unfortunately, the person who leaked the news about the affordable Tesla did not provide further details on the matter. Therefore, we do not know when production will start and where the cars will be sold. However, speculation points to the highly competitive Chinese market as a likely starting point.
In October 2023, the Chinese electric vehicle market continued its rapid growth, with sales reaching a new record. The China Passenger Car Association reported that retail sales of electric vehicles reached 640,000 units in October, up 95.3% year-on-year. This is the highest monthly sales figure for electric vehicles in China to date. BYD remained the best-selling electric vehicle brand in China in October, with sales of 301,095 units.
This is 5% more than in September and 38.4% more than a year earlier. Tesla took second place with sales of 72,115 units, down 2.6% from September but up 0.6% from a year earlier.
