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Elon Musk promises to make a $25,000 Tesla (in 3 years)

Source: Niraj Chokshi, New York Times (Paid Registration)

Tesla is working on cheaper, more powerful batteries for its electric cars, but many of the required innovations are still works in progress, its chief executive, Elon Musk, said Tuesday at a much anticipated presentation at the company’s California factory.

The advances could ultimately cut battery costs more than 50 percent and increase the distance Tesla’s vehicles can travel by nearly as much. That would set the stage for the company to make a “compelling” $25,000 electric vehicle three years from now, Mr. Musk said, speaking to a parking lot full of Tesla owners in their vehicles, honking in approval.

Read Full Article: Elon Musk promises to make a $25,000 Tesla (in 3 years)

 

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