Elon Musk’s global leading automotive company Tesla will reportedly be manufacturing cheap electric vehicles (EVs) in its factory near Berlin with a price tag of around $25,000, as reported by Reuters on Monday.
This rumoured model would be the company’s cheapest EV, but it is unclear yet as to whether the model will be a remake or an entirely new product.
The plan to build the cheaper vehicle was reportedly discussed when Musk visited Tesla’s Berlin-Brandenburg gigafactory in Gruenheide last week, but the comapnies’ intentions behind the rumoured production have not yet been confirmed.
The circulating low price could allow the company to effectively compete with EV prices from China and Europe, as reported by Forbes.
Tesla’s current cheapest car in the EU is the Model 3, starting at $46,200.