Tesla engaged on a smaller, cheaper EV platform

Tesla plans to go smaller and extra inexpensive for its subsequent era of electrical automobiles, CEO Elon Musk has revealed.

Talking throughout a convention name on Tuesday following the discharge of Tesla’s third-quarter monetary outcomes, Musk mentioned the corporate was engaged on a next-generation platform designed for automobiles smaller than the Mannequin 3 and Mannequin Y.

He additionally mentioned the platform would price half what the platform of the Mannequin 3 and Mannequin Y prices, which factors to any car primarily based on it additionally being extra inexpensive than the Mannequin 3 and Mannequin Y.

“At this level, we’re completed with the engineering for Cybertrucks and for Semi,” he mentioned. “So, it’s clearly what we’re engaged on, the next-generation car, which shall be most likely be about half the price of the three and Y platform. It is going to be smaller, to be clear.”

Musk additionally predicted that manufacturing of automobiles on the brand new platform will exceed the mixed manufacturing of the remainder of Tesla’s lineup.

“However it would, I believe, definitely exceed the manufacturing of all our different automobiles mixed,” he mentioned. “I imply, clearly, we’ll take all the things we discovered from S, X, 3, Y, Cybertruck and Semi into that platform.”

Musk did not go into element about how Tesla will minimize prices however mentioned the corporate had a purpose to get the “effort” required to construct EVs on the next-gen platform to half what’s required for the Mannequin 3 and Mannequin Y.

The Mannequin 3 is essentially the most inexpensive Tesla at current, beginning at $48,490. As for the fee for a future EV, Musk in 2020 mentioned Tesla might minimize prices through additional enhancements within the manufacturing course of coupled with cheaper battery chemistry, which might lead to an EV costing as little as $25,000. It is value mentioning that Musk initially mentioned the Mannequin 3 would begin at $35,000. A $35,000 Mannequin 3 was provided in 2019, although Tesla pulled it from sale after just a few months.