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Tesla is working on a series of manufacturing improvements that could see it develop more adorable and sustainable batteries for their cars. The new technology could see Tesla put a new model on the market for just $25,000 dollars in a major industry steal.
It revealed it could be another two to three years until the technology is ready to be installed in cars as testing continues.
But this is not the first time Elon Musk has talked about his plan for affordable models at the $25,000 mark.
Back in August 2018, he revealed that the company could reach a vehicle in around three years suggesting the project has been in the works for a while.
Mr Musk confirmed that an affordable car range was something the firm “will have” in the near future.
He revealed that cheaper batteries was key to driving down the overall costs to consumers.
Speaking at the firm’s Battery Day event, Mr Musk said: “We need to make more affordable cars.
“One of the things that troubles me the most is that we don’t have a truly affordable car, and that’s something we will have in the future. For that, we need cheaper batteries.”
Tesla says its new “tabless” battery cells will allow them to half the price per kilowatt-hour inside their cars.
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This would produce energy at around £77 per kWh compared to anywhere between £115 to 150 per kWh in current vehicles.
This could smoke models batteries the same price as combustion engine parts which would drive down overall costs.
Tesla says its new design would offer up to five times the amount of energy and offer 16 percent more range than current batteries installed in their Model 3 and Model S cars.
The firm is also aiming to start its own in-house production instead of purchasing these from suppliers.
This will dramatically reduce manufacturing costs with these savings set to be passed onto customers in the form of more affordable models.
Vix Leyton, consumer expert at Carwow said the cheaper car could be a “game-changer” for the take up of electric vehicles.
Sales of fully electric models have dramatically increased so far in 2020 with the Society of Motor Manufacturers and Traders (SMMT) recording a 157 percent rise.
But upfront costs have been a serious barrier preventing mass take-up with 52 percent of drivers revealing that purchase prices were holding them back.
Ms Leyton said: “The announcement of the new, more affordable model from Tesla could be a game-changer for anyone who is on the fence about going electric.
“Tesla, famously at the cutting edge of technology, is a prestige brand that has typically been out of reach to a lot of car buyers.
“It will be interesting to see how this develops over the forecasted three years they say it will take to get it onto the road.
Driving technology is moving rapidly, with a host of new models being introduced and battery range improving all the time.
“But alongside making electric more affordable, significant investment still needs to be made in the charging infrastructure to make sure there are enough charging points to cope as range anxiety remains one of the biggest obstacles to drivers making the switch.”
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