(Benzinga) – At its Battery Day last week, Tesla Inc. (NASDAQ: TSLA) revealed plans to build a smaller, more affordable $25,000 all-electric vehicle. While no details were presented, the company’s new 4680 battery is what will allow it to produce a low-cost car.
Now, a new tweet from CEO Elon Musk has revealed plans for multiple new vehicles. When responding to a fan, Musk said both Tesla Gigafactory Berlin and Gigafactory Shanghai would be producing new vehicles, unique to each factory. Whether the new $25,000 Tesla is one of these vehicles is unknown.
Both will do original cars
— Elon Musk (@elonmusk) September 28, 2020
Benzinga’s Take: This is a pretty surprising development, considering after the unveiling of the Cybertruck, Musk said Tesla was done with new vehicles for a while. Although these cars won’t be out for a few years, that Musk is already talking about them means Tesla probably knows what they will be producing.
It does make sense to have local variants of cars. Something like the Cybertruck is not as friendly on European roads, while at the same time, smaller cars are not very popular in the U.S.