Musk says Tesla will likely have $25K car by 2023

Wednesday, 23. September 2020 00:49

Tesla Inc. CEO Elon Musk revealed he is confident the company will have a $25,000 worth electric vehicle on the market in three years' time.

Speaking during Tesla's Battery Day proceedings, Musk noted it is necessary to take the World to sustainability and that the company's main objective is to accelerate that process. "We don't yet have truly affordable cars," Musk asserted, claiming the reason for that is the lack of affordable cells and that taking the cost of batteries down will lead to a reduction in the electric car price.

During the event, Musk announced the company will start producing batteries with dual-use that serve as an energy device and structure and added the ultimate goal of Tesla is to be better at manufacturing than any other company on Earth.

Tesla's stocks went 4.73% down in the after-hours trading following Musk's comments, selling for $404.18 per share.

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Breaking the News / NL