Tesla’s are expensive, especially outside the US. But now the company tweeted that Tesla is going to make a $25k car in 2022 in Gigafactory Shanghai. The car will be priced between $25k-$30k and will also mark the entry of Tesla in budget car segments. This will also be beneficial for countries like India and Israel, where the prices of cars get doubled due to import duties. So, this car will at least be much more attainable for the enthusiasts out in these countries.
More about the Tesla $25k car
According to the reports, the verification of the product is supposed to be completed by March 2021. Then the work on the vehicle will begin. Talking about the design, the cheaper car will probably be based on Tesla Model 3’s body and will replace it to become the most entry-level EV offering. Note that the company planned to launch the cheaper $25K EV by 2024-25, but now it has been shifted to 2022.
Tesla has been facing quite some competition from local startups in China. This is because their cars are much cheaper and also due to Tesla’s availability problem. But now, with this new vehicle starting at just $25k, Tesla can capture an even larger market share. Plus, customers who wanted to buy a Tesla but didn’t have a budget of $50k can now get one for half the price.
There is no solid data on when the vehicle is going to arrive and its design exactly. But one thing is for sure that it is arriving in 2022. The launch of this new cheaper EV will also help Tesla capture almost 90% of the EV market. And once EVs become a normal thing, Tesla might have an upper hand in the market due to their technology and products in every price range.
A new Tesla!
Tesla was always perceived to be a premium EV company. But their entry into the budget segments of vehicles is going to change that. Earlier, a person having Tesla means they at least spent $50k, but that won’t stay that way from 2022. When brand images change sometimes, it is beneficial for the company, and sometimes it’s not. However, Tesla’s tweet makes me stay optimistic as the company plans to achieve a 90% market share of the auto industry with this new launch.
What are your thoughts on the new cheaper Electric Vehicle from tesla? If this car comes to India at a similar price, do you think it will disrupt the Indian auto-market? Do let us know in the comments below. Also, if you found our content informative and useful, do like and share it with your friends.
Also Read: Apple Inc. might launch their Electric car within 5 years