Tesla Plans to Produce EVs in Germany for about $40,000


According to German reports, Elon Musk, the CEO of Tesla, has stated that the company intends to produce the much anticipated €25,000 ($A40,000) electric vehicle for the European market at its Giga Berlin facility.

The news was given to employees at the cutting-edge GigaBerlin plant in Brandenburg, Germany, where the new electric vehicle is scheduled to be produced. Similar initiatives are also planned for the Austin plant and Mexico.

The development of the €25,000.00 Tesla EV, a price that Tesla could never quite meet with the Model 3, would increase pressure on traditional automakers who are finding it difficult to turn a profit on their own electric vehicle production and are consequently unable to match the present stock price of Tesla.

In reaction to the news, one Tesla fanatic wrote on social media, “Ramping up while VW, GM, BMW, Ford, etc. are ramping down.”

Large German automakers like Volkswagen (VW) have stopped producing electric vehicles at their factories in response to what they refer to as “lower than expected demand” for their goods, while GM and Ford have announced that they will be scaling back their own EV plans in recent months.

Since Tesla built its first electric vehicle (EV) at a price of $A222,995 driveaway, making it one of the most expensive automobiles of its time, the company has made amazing cost reductions. This recent news follows that trend.

Since then, Tesla has released the Model S, Model X, Model 3, and Model Y while also significantly improving manufacturing procedures without being hindered by challenges from the past. Millions more individuals are now able to purchase an electric vehicle thanks to price reductions made possible by Tesla’s second and third generations of vehicles.

More drivers will choose an electric vehicle (EV) from a company known for producing EVs that are made in Europe as Tesla broadens its product lineup and ramps up manufacturing of its hugely popular Model Y.

With plans to develop a more cheap model officially unveiled to employees at the Tesla factory, Tesla is showcasing its ambitions to produce and deliver hundreds of thousands of mass-market electric automobiles.

This would support the transition of a large number of European drivers to greener cars, in keeping with Europe’s goal of reducing transport-related emissions.

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