Elon Musk confirms “a car half the price of the Tesla Model 3”

On the occasion of the financial results for the third quarter of 2022, Elon Musk announced that Tesla engineers were now focused on a new project: the famous Model 2 at 25,000 euros. We take stock of what you need to know about it.

Foxtron Model B
Foxtron Model B

In September 2022, an executive at Tesla had half-word admitted to being working on a future affordable electric car, which would not be called Model 2. Elon Musk has just confirmed the information: the American manufacturer is well working on this new project. The goal: to offer an electric car that would cost half the price of the Tesla Model 3 and Model Y.

To do this, the engineers are creating a new platform, more compact than the existing models of the American manufacturer. Elon Musk has confirmed that the development of the Semi and Cybertruck has ended, which helped redirect engineers to this new project as can be read on the transcript of the conversation between Elon Musk and analysts.

Around 30,000 euros in Europe?

If the Model 3 cost half the price of the Model S when it was launched in the United States (35,000 dollars against 70,000 dollars), Elon Musk plans to do the same for this future Model 2. The Model 3 being currently sold for $46,990 in the United States, expect a price of around $25,000. Rates excluding taxes, which would therefore give a vehicle in France around 30,000 euros.

The big question we are asking is the following: will this future Model 2 (which would not be called a priori not like this) will have a steering wheel and pedals? The rumors do not yet agree on the subject. Some indeed announce that the car will be 100% autonomous, which would explain its lower cost. But if we trust the statements of Elon Musk, we would not yet have a 100% autonomous car.

Smaller batteries

Indeed, the American billionaire specifies that this future electric car will require half the work and space to be produced. We also imagine that the entrepreneur relies heavily on reducing the cost of batteries. But this may take a little longer than expected to materialize. Reducing the size of batteries (as Renault does) could be a solution, notably allowing lower consumption.

This announcement comes a few days after Foxconn, the iPhone maker, announced its Foxtron Model B, a 100% compact electric car, which manufacturers can market directly. The boss of Foxconn also took the opportunity to indicate his desire to manufacture cars for Tesla. But it is difficult to see this happening in practice.

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