- 🚗 Tesla CEO Elon Musk announced plans to build a €25,000 electric vehicle (EV) at Giga Berlin.
- 💰 The affordable $25k EV aims to reach a broader market segment of customers.
- 🏭 Giga Berlin will produce the $25k EV for the European market, alongside other potential production sites.
- 🗓️ Analysts suggest the $25k EV could debut in 2024, although Tesla is focusing on other projects, like the Cybertruck, for the time being.
- 🎨 Tesla plans to cover the entire concrete sector of the Berlin factory with art as part of the aesthetic plan.
Tesla CEO Elon Musk visited the company’s German production plant known as Giga Berlin today. He also gave an update on plans for the aesthetic of the plant, as well as a plan for manufacturing the company’s mass-market $25k EV.
Musk has frequently visited Tesla’s production plants to check on the progress of production and operations while also meeting with various team members, including those who are responsible for manufacturing.
While there, Musk said that Tesla would build a $25,000 EV at the plant, according to @Gf4Tesla on X.
The $25k vehicle, which has been a car the automaker has planned to manufacture for several years, would be able to reach a new sector of customers who are unwilling to spend upwards of $30,000 on a new EV.
The $25k EV from Tesla has been rumored to be built in several markets, including in China and Mexico. Still, Musk revealed today when meeting with employees that it will also be made in Berlin for the European market.
While Tesla has been able to slash prices on its vehicles in recent years, it has not been able to get the Model 3 quite to the $25,000 level.
However, it has been detailed for some time that it would build a vehicle to reach that price point.
Analysts at Loup Ventures said that the car could make its debut in 2024. Still, Tesla will be busy with scaling the Cybertruck at Gigafactory Texas and could wait to launch new projects as Musk expressed concern about interest rates during the Q3 Earnings Call.
Additionally, recent details have hinted that the vehicle could have a design that the Cybertruck inspires.
Musk also said that Tesla plans to cover the entire concrete sector of the Berlin factory with art.