Tesla will release a $25,000 electric car after all

Tesla has resumed work on a new electric car that will cost $25,000. This was announced by Elon Musk in an interview this week.

Here's What We Know

The first talk of Tesla's new cheapest electric car was more than three years ago. Production was expected to start by 2023, but as you've realised, that hasn't happened. Musk said as early as last year that his company would not be able to meet the original deadline.

Nevertheless, developing a $25,000 electric car is now one of Tesla's priorities. Production of the new low-cost vehicle will be set up at the company's facility in Austin, Texas.

A separate production line of the new generation will be provided for the car. This approach, according to the head of Tesla, will reduce production costs. The proximity of the site to the headquarters is also a plus. This will enable engineers and company management to take an active part in the preparation for the launch of mass production.

In the future, the production of electric cars will be established in Mexico, where preparations for the construction of a plant are underway. The new facility will be located near Texas and will focus specifically on the production of low-cost electric cars.

Source: Munro Live
Image: Patrick T. Fallon/Bloomberg via Getty Images