Tesla intends to produce affordable USD26,750 electric car in Germany

(MENAFN) Tesla has unveiled plans to manufacture an electric car with a price tag of 25,000 euros (approximately USD26,838) from its factory near Berlin, Germany, as reported by Reuters. This development comes as Tesla aims to expand its efforts in making electric vehicles more affordable, triggering a surge in the company's shares, which saw a 2.5 percent increase on the New York Stock Exchange.

The decision to introduce an economically priced electric car reflects Tesla's ongoing commitment to reducing the cost of its vehicles while meeting the demand for a more accessible model. The move aligns with Tesla CEO Elon Musk's announcement back in 2020, wherein he outlined his goal to produce an electric car priced at USD25,000 by the year 2023.

During a visit to the Giga Berlin headquarters, Elon Musk reportedly shared the news of local production for the new electric car with factory workers, signaling the company's determination to bring this project to fruition. Tesla has set ambitious targets for its upcoming electric vehicle, with supplier information revealing plans to manufacture 4 million units of the new model by 2030. This ambitious production goal is part of Tesla's broader strategy to deliver a total of 20 million vehicles by the same target date.

This announcement represents a significant step forward in Tesla's mission to make electric vehicles more accessible to a wider range of consumers, potentially revolutionizing the market and driving further adoption of sustainable transportation. The move towards a more affordable electric car not only reflects Tesla's commitment to innovation but also its determination to make a positive impact on the automotive industry and the transition to cleaner, greener mobility solutions.

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