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HomeAUTOTesla to launch its most affordable EV soon, is anticipated to cost...

Tesla to launch its most affordable EV soon, is anticipated to cost THIS much, all we know so far

Tesla: Tesla is working on an electric car that should be far more inexpensive than their existing models. The new EV’s manufacturing costs will be roughly half as high as those of the Model 3, claims CEO Elon Musk. Musk also disclosed that the automobile will function primarily in autonomous mode, but he made no timeframe for its release known. These specifics are noteworthy in light of Musk’s prior admission that many consumers find Tesla’s current EVs to be appealing but out of reach.

Also Read: Hero Motocorp to launch an electric bike in India soon? partners with Zero Motorcycles, all we know so far

New affordable EV by Tesla

Since a few years ago, there have been rumours about Tesla developing an affordable EV, but now there is proof to back up those rumours. The EV’s images, which are estimated to cost less than $25,000, will be built on a brand-new platform. This new vehicle, which is most likely a hatchback, would be 15% shorter and 30% lighter than the Model 3, which is now the smallest variant available. In terms of its powertrain, it is also anticipated to skim 37% less than the Model 3. With this one, the US EV giant’s primary concern is the price in order to achieve previously unheard-of mass market penetration.

The new model was shown off in a commercial that made reference to its hatchback form and body style. Tesla picked China for the design, development, and production of this new EV since it is the largest auto market in the world. Also, the pricing of this EV is right on target for the brand, which will significantly increase sales for the brand in China. Also, it will give the brand the opportunity to enter new markets.

Tesla’s Plan to reach new markets

Tesla has previously tried to increase sales by lowering prices in a number of markets, including the US and China, and this has prompted rival automakers to do the same. The business will need to keep its pricing structure competitively priced to succeed in new markets, particularly in developing nations. This is where the next smaller EV could be quite important.

Also Read: Renaut Kwid: One of the best budget friendly hatchbacks available in the market, specification, features, price and all you should know

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