More Information on Tesla "Budget Compact Model" Release
Analyst Gets Information About Budget Model
From this video from Tesla Daily, we have a portion talking about the Tesla budget model vehicle, Tesla's $25,000 compact car. We have some information on when this budget model may be released:
There was a conversation with Tesla's investor relations team from an analyst according to Rob Mauer from Tesla Daily.
From a key highlight from Global Autos Flagship German EV & AV trip:
The "budget" model will come once in-house cell production is fully up and running. This will be the case in 2023, according to Martin. Before, Tesla wouldn't have enough batteries at the right cost level to build such an entry-level car.
The Impact of the Budget Model
When the battery capacity is available, which likely means the 4680 batteries, Tesla will be able to produce their $25,000 compact model. This won't happen for a couple more years.
With the upcoming Tax Credit bill, assuming it doesn't change too much from what it is now, that would mean an $8,000 tax credit on a $25,000 vehicle. When you take that $17,000 and add full self-driving to it, you're still at only $27,000 for a fully electric Tesla.
I believe if that price point can be reached, that we are going to see a giant surge in Tesla vehicle purchases like we've never seen a car be purchased before. Everyone is going to want the Tesla compact vehicle.
I expect it to get between 200 and 250 miles of range at its very basic model. When this car comes out, it is truly going to be the end of all other vehicles - both gas and electric.
What do you think of the news of Tesla's budget compact vehicle? Is it going to come out in 2023 or sometime after that? Will there be any electric vehicles that can compete with it?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter, Facebook, LinkedIn and Instagram to stay in touch and follow his Tesla news coverage on Torque News.