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Musk says Tesla isn’t making a $25,000 car right now


Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021.

Patrick Pleul | Reuters

Tesla CEO Elon Musk said in company’s fourth quarter earnings call that the company won’t release any new models this year and isn’t currently developing a $25,000 car.

In his opening remarks, he said that continued chip shortages would make it impossible to launch new models without leading to fewer total deliveries.

“If we had introduced a new car last year, we would – total vehicle production would be unchanged because of limitations – especially chip limitations.” He continued, “So we’re not going to introduce new car levels this year. It wouldn’t make any sense.”

Then, when asked about a lower-priced Tesla for general consumers, Musk said that project is not currently underway.

“We’re not currently working on a $25,000 car,” Musk said. “At some point we will. We have enough on our plate right now. Too much on our plate, to be honest.”

Musk has repeatedly suggested a $25,000 Tesla is possible. He said that in 2018 it will be lost Tesla about three years to develop – though he didn’t give a timeline of when it might happen. And in 2020, Musk suggested at the company’s shareholder meeting that Tesla will launch such a car within the next three years.

“About three years from now, we’re confident we can create a $25,000 electric car that’s very attractive and also fully autonomous,” he announced in 2020. Still, Musk has a reputation for being too much. optimistic with their predictions.

Instead of launching new models, including the Cybertruck and Semi, in 2022, Tesla will focus on developing driverless vehicle technology and scaling up production at existing plants this year. executives said on Wednesday’s earnings call.

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