Tesla plans to build a new, fully autonomous, electric car that sells for only £20,000 in ‘about 3 years’, Chief Executive Elon Musk told shareholders at Battery Day 2020. That is significant. Why? Because, as of now, all the manufacturer’s cars cost a significant amount of money. That is unfortunate. It:
- restricts the number of people that can afford eco-friendly electric cars
- makes it harder for the company to increase market share.
‘It is absolutely critical we make cars people can actually afford’, Mr Musk emphasised. ‘Affordability is key to how we scale.’ However, Tesla has to minimise the cost of its batteries before it can sell electric vehicles for only £20,000. It therefore plans to reduce its reliance on other companies, ensure it has a good supply of raw materials, and make efficiency savings. This involves:
- making its own batteries rather than buying from other companies
- mining its own lithium (which is required to produce batteries)
- minimising how far materials and components have to travel.
Tesla has a lot riding on such innovations as they could increase its market share, stock price, and recognition among motorists. ‘A lot of people want to buy a Tesla – but they simply do not have enough money’, Mr Musk emphasised.
Tesla range overview
Tesla has a small range of capable, interesting, electric cars but there is no budget option. Consider the Model 3, for example. This compact executive saloon is the most affordable choice. However, it still costs £40,490 to £56,490. Key features include autopilot that steers, accelerates, and brakes on your behalf (in certain situations). The car’s maximum range is 360 miles per-charge.
The Model X is among the alternatives and costs £82,980 to £97,980. This sports-utility vehicle has ‘falcon wing’ doors that open upwards so it is distinctive, stylish, and instantly recognisable. It also has room for up to 7 people. Further expect all-wheel-drive and a minimalistic interior that is dominated by the 17” inch touchscreen. The vehicle’s range is up to 348 miles.
The Tesla Model S is a large, prestigious, luxury vehicle that has the ‘quickest acceleration of any production sedan on Earth’, Tesla suggested. In its most potent form, expect 0 to 60 mph in less than 2 seconds. The maximum speed is 200 mph. Furthermore, it has all-wheel-drive for optimum traction and can travel up to 520 miles per-charge. The Model S costs from £74,980 to £130,980.