Elon Musk will lay out details of affordable electric cars tomorrow at an investor event in Texas. He will also unveil Tesla’s “Master Plan 3” and discuss the production of batteries for both vehicles and renewable energy sources.
Making affordable cars has been Mr. Musk’s “dream” since joining the company, he said in February at an event to launch Tesla’s engineering headquarters in Palo Alto, California. But, while Tesla has jump-started the EV market by offering its premium Model 3 and Model Y vehicles, Mr. Musk has yet to reach his target to deliver electric vehicles attractively priced for the mass market.
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The cheap car would be crucial for expanding into the mass market and helping Tesla meet its goal of increasing vehicle shipments 15 times to 20 million by 2030, analysts say. However, the carmaker hasn’t mastered the new battery technology it says would be critical to the cheap car.
In the meantime, analysts say investors want to see more clues about how Tesla plans to boost production and introduce a cheaper car for around $25,000. Caldwell suggests that Musk needs to be more specific about his plans, including how it will produce its batteries and its new vehicle models after 2020.
A cheaper, lower-cost electric car could significantly impact the automotive industry and offer a direct challenge to Tesla’s dominance in the space. It might even be the spark that ignites an entire EV revolution, much like Ford did with its Model T in the 1920s.
It’s good that Musk and Tesla are trying to bring the electric car to the masses as quickly as possible because it will be more environmentally friendly than if produced in an old-fashioned way, said Holm. He thinks that the electric car will eventually become the primary mode of transportation for all Americans.
But in the meantime, it will be up to other companies to start producing electric vehicles as well. Some, such as Lucid Motors, have announced their entry into the EV market by launching a new electric truck and an all-electric pickup.
They compete with GM, Ford, and Toyota in the US and Japan. They all want to make electric cars that compete with gasoline-powered vehicles in performance and price.
If it can be done, the electric car will make a massive difference for people on the road and in their lives outside of it. And in the end, it will save them a lot of money.
It’s time to start thinking about the future of cars. It’s a time for us to consider how we will travel and where we’ll go.
We need to start thinking about what’s best for our children and grandchildren and what is best for the environment. Then, we can work together to achieve our goals for ourselves and our families.
