Elon Musk recently stated that we could see Tesla launch a low-cost car model in “probably 3 years”. The Tesla CEO stated that achieving the goal will be “really difficult” due to the competition in the auto sector as well as the current economy.
In an interview with Marques Brownlee, Musk stated that large companies like General Motors and Ford make it especially difficult for a relatively smaller company like Tesla to compete in the industry.
According to Musk, his company “is really focused on making cars more affordable, which is really hard. To make cars more affordable, you need high volume and economies of scale.” With that said, Must is more confident than ever that Tesla will eventually be able to produce a low-cost, high-quality car.
“I think in order for us to get… a $25,000 car, that’s what we can do,” he explains. “But if we work really hard, I think we can probably do it in about three years.” Musk also stated that his predictions depend on both time and scale.
In conversation with Brownlee, Musk compared car manufacturing to the early years of cell phones. “With each successive design iteration, you can add more things, you can find better ways to make it, so it gets better and cheaper,” he said. Musk explained that “the natural evolution of any new technology, it takes multiple versions and high volumes to make it more affordable.”
In his interview, Musk also explained how Tesla relies more on word of mouth than on expensive advertisements and endorsements. “Where I put all my money and all my attention is trying to make the product as attractive as possible,” Musk said. “If you love it, you talk and that creates word of mouth,” explains the Tesla CEO.
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