'Morgan Stanley analyst Adam Jonas believes electric vehicles in the market could drop as low as $5,000 in the future. Tesla seems well on its way to releasing more affordable electric cars with its $25,000 car.
“We would not be at all surprised to see the prices of many EVs eventually fall to below $5k/unit,” Jonas wrote in a note after talking with carmakers, suppliers, and experts in the electric vehicle sector.
Since the sales and release of the Model 3, Tesla has introduced several price cuts in its vehicles made within the United States and China. The Model 3 Performance is a good example of this, as the car debuted with a $78,000 price tag before Autopilot. Today, a Model 3 Performance with basic Autopilot costs $55,990.
Tesla doesn’t seem to want to stop at price cuts for its current lineup, either. The company has also shared its plans to release a $25,000 car in the future. There is already talk of Tesla’s $25,000 electric vehicle being developed in China.
Elon Musk talked about the company’s price goals during the Q3 earnings call last year, revealing Tesla’s objective to make its cars as affordable as possible.'
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Tesla’s $25K car could herald more affordable EVs as Morgan Stanley analyst predicts $5K unit, March 16, 2021
Context'EU plotting ban on internal combustion engine as of 2025..' - '..to have every car manufactured in America be electric by 2030..'