Tesla/Tesla cars
Tesla confirmed tonight that it intends to launch next year the electric car that the market has been waiting for for several years, and is expected to cost $25,000 in the US. This is about 40% cheaper than the basic Model 3, which now costs NIS 221,000 in Israel, that is, about 140,000 NIS in Israel.
The lack of a cheap electric car allowed the Chinese BYD to overtake Tesla in the last quarter of 2023, and for the first time produce more electric cars than the American company. The cheapest BYD in Israel, the Dolphin, costs NIS 144,000, and the company already sells a mini electric car, the Seagal, in China. Even cheaper.
Talking to investors tonight, Musk said that production is currently scheduled to begin near the end of 2025, but was quick to qualify: "I won't surprise you, but I'm generally optimistic about times." Musk promises a cheap Tesla starting in 2020.
Musk didn't elaborate, but According to a Reuters publication, the car, which the company calls the "Redwood" project, is a smaller crossover that is technologically simpler than the Y model, with a range of 400 to 500 km.
Tesla is preparing in the first stage to produce 10,000 units per week.
According to Reuters, Tesla is preparing to produce it at a plant in Berlin, but Musk
only referred to production at a plant in Texas in the conversation.
Musk.
Guarantees a tram for 25 thousand dollars since 2020 / Reuters
The cheap tram will be the first to be produced using a method different from existing cars, of building the cars in several central parts and then connecting them, instead of the slow connection of part to part today.
The process, which Toyota is also developing at the same time, should dramatically reduce production costs, but raises concerns about the costs of replacing parts of the vehicle in the future in the event of an accident.
Tesla reported that it sold about 1.2 million Model Y models in 2023, which should give it the title of the best-selling car in the world, the first time for Tesla and for an electric car.
Toyota Corolla has held this title for decades, and in 2022, 1.12 million cars were enough for it to retain it.
Musk also revealed that Tesla's Fairmont factory produced 560,000 cars last year, more than any other car factory in North America.
Despite the report on the launch of the cheap Tesla, yesterday the company's stock fell by 6% after the close of trading, following a report that disappointed investors.
Tesla's profit was 71 cents per share compared to expectations for 74 cents, and annual revenue was $25.17 billion compared to expectations for $25.6 billion.
Musk said that Tesla is now between two growth periods and that in 2024 it may grow even less than in 2023, before the launch of the new model in 2025.
Even after the declines, Tesla is still worth more than $600 billion.
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