American multinational automotive company Tesla is apparently aiming to build its most economical electric vehicle (EV) ever at its industrial unit in Berlin, Germany, but all eyes will be on whether such a model will also be sold in developing countries such as India and Brazil.
Currently, Brazil and India are not home to Tesla, despite both being significant car markets for international companies.
For some time now, Tesla CEO Elon Musk has been hinting at the possibility of a cheaper Tesla electric vehicle than the Model 3, saying it may be a boost to the company’s efforts to enter new markets. The Model 3 is now the most reasonably priced Tesla available, with a starting price of $38,990 (which is about Rs 32.50 lakh) in the US market.
According to Reuters, the cheaper alternative to even the Tesla Model 3 would be priced at about $27,000 (that is roughly Rs 22.50 lakh); however, the company has not made an official announcement on the proposed price structure or even the specifications of the vehicle.
Nevertheless, Tesla CEO Musk has already stated that a more cheap electric vehicle might help the firm increase sales even further, particularly if and when it enters growing countries like India and Brazil. It was in 2018 when Musk first mentioned the idea of such an offering.
Furthermore, the upcoming EV is expected to be dubbed the Model 2, although no official information has been released. The name makes sense given that the 2 will be positioned below the 3 and will be the least expensive model in the series.
As per an unidentified source, Tesla CEO Musk recently visited the Giga Berlin and verified that the EV will be manufactured there. But he didn’t say when the vehicle would go into production. The Gigafactory in Berlin is currently producing the Model Y crossover, Europe’s best-selling EV. As a result, the Model 2 would be the second Tesla to be built in Europe.
A new and more affordable Tesla EV has a lot of potential for a firm striving to reduce production costs while increasing car deliveries to 20 million by 2030, reports add.
Thus, an entry into India may aid Tesla in meeting its declared and anticipated goals, particularly considering that this is the third-largest automobile market in the world. Yet compared to western countries, the adoption of EVs is happening more slowly in India, and a lot will depend on how affordable they are.
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