Tesla’s Investor Day is just around the corner. While Elon Musk will be unveiling a lot of things, an affordable and cheap Tesla, one that costs around $25,000 is what fans are really hoping for.
Elon Musk the eccentric genius who made Tesla what it is today, has teased the world for years with his fantasy of a cheap and affordable electric vehicle. Fans are hoping that this week at Tesla’s Investor Day, he will shed some light on what exactly he has in mind, about how he plans to manufacture it. Or better yet, just straight away launch it.
Last year Musk said that he had to scrap the plans for Model 2 because Tesla hasn’t perfected the new battery technology which, according to Musk, will be critical to power low-cost electric vehicles.
Expanding into the mass market is crucial to Tesla’s aim of tripling car sales to 20 million by 2030. Tesla has reduced prices in recent months in order to improve sales, which have been hampered by a weak economy and increased rivalry.
Tesla’s stock is up about 60 per cent year to date, but it is still only half of what it was in November 2021.
The low-cost vehicle is anticipated to be the centrepiece of Musk’s ‘Master Plan Part Three,’ which he will unveil on Wednesday at an ‘Investor Day,’ alongside plans for factory growth and capital expenditure.
Investors will be cautious of whatever he says about timetables because he has missed some of the most important dates while creating the world’s most valuable auto business.
“Musk can be decoded using a straightforward formula. Multiply whatever time period he has by two, and “Deepwater Asset Management, which holds Tesla stock, is led by Gene Munster.
He anticipates that the new car platform will be available in 2025, which is still years ahead of the usual auto industry creation of a new vehicle.
Musk’s hints about the Model 2 don’t exactly reveal a lot. Making an appealing $25,000 electric car “has always been our goal since the inception of the business,” he said at a 2020 battery presentation.
Musk revealed last year that he planned to release a robotaxi with no steering wheel or wheels by 2024, though it was unclear if this was the same low-cost vehicle.
A recent Tesla engineering film revealed a tiny vehicle with characteristic Tesla curves, which company observers believed was a Model 2 design.
According to Guidehouse Insights analyst Sam Abuelsamid, Tesla may reveal a cheaper car with a limited driving range for the Chinese market, but a long-range, affordable car that would attract in the United States market will likely take some time due to the sluggish ramp up of its own batteries.
Musk stated in a mineral podcast titled ‘Getting Stoned’ last year that the new master plan, which builds on earlier ones for vehicle launches and developing solar and energy storage businesses, is about how to “scale” and get all the materials needed to make batteries for vehicles and energy storage systems.
“The rate at which we can transition to sustainability is the rate at which we can increase the production of lithium ion batteries,” he said in the conversation.
Although there are signs that sky-high lithium prices may be lessening, Musk has stated that lithium costs may cause Tesla to produce its own supply of the electric vehicle battery metal.
Battery manufacturing is also a problem.
Musk predicted in 2020 that his company would produce 100 gigatonnes of newer generation, lower cost batteries by 2022, enough to power about 1.3 million Tesla Model Ys, but the December production rate of the batteries, known as 4680s, was only enough for slightly more than 50,000 vehicles per year.
Musk has also stated that Tesla will continue to rely on battery providers in order to grow up quickly. Panasonic, LG Energy, and BYD are among Tesla’s cell providers.
Batteries are also expected to play a role in Musk’s designs for a “fully sustainable energy future” beyond the automobile.
He may also speak about solar energy production and battery energy storage, which he has stated are two other cornerstones of a clean energy future.
Investors will be looking for signs of increased demand, plans to scale up production of the Cybertruck, which Musk said will begin volume production next year, and possible sites for new Tesla factories, with Mexico, Canada, Indonesia, and South Korea all mentioned as potential options.
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