Elon Musk has revealed details of Tesla’s plans to take on rival Chinese electric cars from BYD and MG with a new model priced at around $45,000. The new vehicle is expected to be produced in the first half of 2024, but Musk has confirmed that the previously announced $25,000 Model 2 project has been scrapped. Instead, the $25,000 vehicle will be the Cybercab, a steering-wheel-less electric vehicle. The new model will benefit from US government incentives, making it potentially more affordable, with a price of around $30,000 oder $45,000 in Australia. This puts it in direct competition with Chinese electric vehicles, and potentially with the newly launched Kia EV5. Some analysts predict that there could be two new models next year, including stripped-back versions of the Model 3 and Model Y, with production of the lower-priced Model Y variant set to begin in April 2025.
Tesla’s Price Point Just Got a Boost! Elon Musk Unveils a New $45,000 Model, Set to Hit Production Lines Next Year and Rattle Rivals BYD and MG
