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Tesla Works Toward Cheaper EV Options

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Oct. 21, 2022—Tesla CEO Elon Musk has recently confirmed that a cheaper electric vehicle option from the automaker is in the works. 

According to Electrek, during a conference call following Tesla's Q3 financial results, Musk said that Tesla is developing an EV platform that will allow for cheaper vehicle options. Musk said the cars would be smaller, but available at around half the cost of the Model 3 and Model Y platform. 

Musk said the goal with this platform would be to produce a greater volume than all of the other Tesla vehicles combined. According to Electrek, this proposed platform could mean a cost of around $25,000 and $35,000 for the vehicles. Comparatively, Tesla's Model 3 costs around $47,000. 

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