General

Tesla is actively working on creating a cheaper model

According to Elon Musk, Tesla is actively working on creating a cheaper Tesla model.

The company does not want to announce the timing of its appearance,but, as stated, the task of its creation is now the main priority of Tesla. The main idea is to use already developed technologies in the creation of a new machine in order to reduce the cost of its production. Tesla's maximum goal is a 50% reduction in cost relative to the price of the Model 3. This can be helped by techniques for the production of body parts using injection molding, which can significantly reduce the number of individual operations. For example, the Model 3 uses technology to eliminate 1,600 welds compared to the Model Y. The smaller model, which has yet to be named, could cost around €25,000 and will compete for public interest with affordable European and Chinese electric vehicles, e.g. Volkswagen iD.3.