Photo: Tesla
Remember when the Model 3 was under development a few years go? The $35,000 electric vehicle promised by Elon Musk is nowhere to be seen in the U.S. configurator, but Tesla has even bigger ambitions with a more affordable EV.
2023 is when the “$25,000 car” is expected to roll out, but don't get your hopes up. Tesla has always disappointed in terms of deadlines, and Elon has always made bombastic pledges about the future of the Palo Alto-based company and EVs as a whole.
The question is, what if Musk isn’t bluffing? What would be the consequences of Tesla introducing a $25,000 electric vehicle in three years’ time? Experts quoted by The Korea Bizwire say that “Korean EVs are at risk,” and they’re damn right!
Turning our attention over to the United States, the once-popular Nissan Leaf now costs $1,785 more than the most affordable EV in this part of the world – the MINI Cooper SE. It should also be highlighted that the starting price of the MINI doesn’t include tax incentives while Tesla doesn’t benefit from tax incentives.
The role of the $25,000 Tesla starts to get increasingly clear, but some of the largest players in the EV segment won’t sit idly and watch from the sideline. “If automakers sacrifice profits in exchange for a breakthrough in the market, EVs that cost less than 30 million won may be available in four to five years,” declared researcher Kwon Soon-woo about the ripple effect of Elon Musk’s new project.
Looking at the bigger picture, the low-cost EV revolution is closer than you may be thinking. The cheapest electric vehicle in Europe is scheduled to be unveiled next year in the guise of the Dacia Spring, which could cost as little as 14,000 euros with the plug-in incentive.
That’s $16,455 at current exchange rates, which is insane value for money by all accounts. The Tesla logo definitely is more attractive, no doubt about that, but Dacia has a different business model and philosophy that could make the Spring the most popular EV in the Old Continent as soon as 2022.
The question is, what if Musk isn’t bluffing? What would be the consequences of Tesla introducing a $25,000 electric vehicle in three years’ time? Experts quoted by The Korea Bizwire say that “Korean EVs are at risk,” and they’re damn right!
Turning our attention over to the United States, the once-popular Nissan Leaf now costs $1,785 more than the most affordable EV in this part of the world – the MINI Cooper SE. It should also be highlighted that the starting price of the MINI doesn’t include tax incentives while Tesla doesn’t benefit from tax incentives.
The role of the $25,000 Tesla starts to get increasingly clear, but some of the largest players in the EV segment won’t sit idly and watch from the sideline. “If automakers sacrifice profits in exchange for a breakthrough in the market, EVs that cost less than 30 million won may be available in four to five years,” declared researcher Kwon Soon-woo about the ripple effect of Elon Musk’s new project.
Looking at the bigger picture, the low-cost EV revolution is closer than you may be thinking. The cheapest electric vehicle in Europe is scheduled to be unveiled next year in the guise of the Dacia Spring, which could cost as little as 14,000 euros with the plug-in incentive.
That’s $16,455 at current exchange rates, which is insane value for money by all accounts. The Tesla logo definitely is more attractive, no doubt about that, but Dacia has a different business model and philosophy that could make the Spring the most popular EV in the Old Continent as soon as 2022.
On an ending note, the main picture of this article comes from Tesla's Chinese division. “It would be super cool (…) to actually design an original car in China for worldwide consumption," said Elon earlier this year, probably referring to the rendered EV.
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