Tesla announces an “affordable” model for 21,400 euros and suffers on the stock market

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.
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Elon Musk, founder and CEO of Tesla.

Tesla CEO Elon Musk has announced that his company plans to produce an affordable electric car that will cost about $ 25,000 (21,400 euros) by 2023.

This was pointed out by Musk during the ‘Battery Day’, in which he stressed that this cost savings will be focused on batteries, which will cost half, will have a greater autonomy and will be produced by the company itself.

“This has been our dream from the beginning. In about three years, we are confident that we will be able to make an attractive electric vehicle for $ 25,000 that is also fully autonomous,” he said.

The Tesla founder has claimed that the firm will assemble batteries for its models at the new plant it is building in the vicinity of Berlin, where it will also produce vehicles.

However, Musk said at the time that the Model 3 would cost about $ 35,000 (29,500 euros) and three years after its launch the cheapest variant is available for almost 38,000 dollars (32,500 euros).

Tesla expects to register around 500,000 vehicles worldwide this year, 36% more than in 2019. Thanks to its new, more affordable model, the US manufacturer’s goal is to sell about 20 million vehicles a year in the future. which will require many more batteries, although it currently has very few suppliers.

“Today’s batteries cannot multiply fast enough,” lamented Musk, who announced that in 2022 Tesla would already mass-produce batteries for several of its models, according to Bloomberg.

After the announcement, Tesla fell 5.7% in the early stages of this Wednesday’s Nasdaq session, to $ 400.04 (343 euros) per share.

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