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File photo of Tesla CEO Elon Musk. (REUTERS)
File photo of Tesla CEO Elon Musk. (REUTERS)

Tesla won't cut Model 3 price, new smaller car will be to woo more buyers

  • Elon Musk has already said Tesla will make a new $25,000 EV.
  • Elon Musk says Model 3 prices won't be cut.

Elon Musk knows the significance of having an affordable offering to ramp up sales figures and the Tesla CEO has been vocal about his intentions of having a product that is smaller and cheaper than the Model 3, currently the cheapest offering from the California-based company. As such, he recently once again underlined that the price of Model 3 won't be slashed in a bid to attract more buyers and instead, there would be a car smaller to it which could sit as a more affordable option for those on a tight budget.

Tesla has quite the lead in the world of electric personal mobility and its cars have become quite iconic in contemporary times. But the cars are not exactly affordable even if Model 3 has managed to invade and conquer the mass-market EV segment to a large extent. Sales figures have been climbing despite challenges galore and Musk may now be looking at coming up with a brand new offering that is cheaper than anything Tesla has rolled out thus far.

Musk has confirmed that two separate new vehicle programs are being planned in Shanghai and Berlin. The question now is not really what but when, even if Musk has given a rough timeline of three years.

Tesla has hands full now as it only recently began rolling out Model Y SUVs and is next gearing up to drive in the much-talked-about Cybertruck which would be followed by an electric truck - Tesla Semi, and Roadster.

The schedule and upcoming product lineups mean that those waiting for the smallest Tesla ever may have to wait rather long.

On the flipside though, Musk has an unconventional business style and while he is open and active on Twitter, may also spring a surprise when least expected. He is well aware that rivals like Volkswagen are upping the game an to stay ahead, the need for compact and cheaper EVs would be the need. As such, and even if there's no schedule confirmation, a more affordable EV from Tesla may be sooner rather than later

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