Tesla CEO Elon Musk paid a visit to the company’s Giga Berlin manufacturing unit in Germany today. He also provided an update on the plant’s aesthetic ambitions, as well as a strategy for producing the company’s mass-market $25k EV.
Musk has regularly visited Tesla’s manufacturing sites to check on output and operations while also meeting with other team members, including those in charge of manufacturing.
While there, Musk said that Tesla will construct a $25,000 EV at the facility, according to @Gf4Tesla on X.
The $25k vehicle, which the manufacturer has been planning to produce for many years, would be able to reach a new segment of consumers who are hesitant to pay more than $30,000 on a new EV.
Tesla’s $25k EV is expected to be produced in numerous locations, including China and Mexico. Nonetheless, Musk disclosed today at a meeting with staff that it would be manufactured in Berlin for the European market.
While Tesla has been able to reduce car pricing in previous years, the Model 3 has yet to reach the $25,000 mark.
However, it has long been said that it would construct a car to meet that pricing threshold.
According to Loup Ventures analysts, the automobile might appear in 2024. Still, Tesla will be preoccupied with growing the Cybertruck at Gigafactory Texas, and Musk voiced anxiety about interest rates during the Q3 Earnings Call.
Furthermore, current information suggests that the vehicle may be inspired by the Cybertruck.
Tesla also aims to cover the whole concrete area of the Berlin facility with art, according to Musk.
According to the latest analysis from Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker, global passenger electric vehicle* (EV) sales increased 32% year on year in Q1 2023.
EVs accounted for one out of every seven automobiles sold in the first quarter of 2023. Battery electric vehicles (BEVs) accounted for 73% of all EV sales during the quarter, with plug-in hybrid electric vehicles (PHEVs) accounting for the remainder.
In the first quarter of 2023, the United States overcame Germany to become the world’s second-largest EV market, while China maintained the top. EV sales in China increased by 29% year on year, despite a 12% drop in total passenger car sales in the nation.
EV sales in the United States increased by more than 79% year on year during the third quarter. In Q1 2023, the top ten automotive groups, which included 48 automobile brands, controlled the worldwide EV market, accounting for three-fourths of total global EV sales.