Musk’s prediction for the Tesla Model 2: it will multiply sales of the best-selling hybrid Toyota by 14
The American company’s kitchen is where the Tesla Model 2 is “simmering.” Elon Musk, the company’s CEO, has made some dubious decisions.
The much anticipated Tesla Model 2 (though its exact name is still unknown) will finally debut in the upcoming years. It will be positioned one rung below the company’s most accessible vehicles, the Model 3 and Model Y. Additionally, even though there are still many unanswered questions regarding the new electric car, Elon Musk, the CEO of the company, has provided several hints.
At a shareholders’ conference, the manager revealed his true colors. The first hint was that Tesla wanted to sell this vehicle for about $25,000, which is already known. This will put it in the same category as the least expensive electric cars, the Volkswagen ID.2 and the Citroën Ñ-C3. There was time for more, though.
Elon Musk’s new clues and objectives
The new model is internally referred to as “Project Redwood,” according to Musk, it was years in the making rather than just a few months. According to the CEO, it was first introduced in 2020, but they didn’t formally announce its impending existence until 2023. He intends for it to protect Tesla’s standing in the mass market and against other manufacturers who view the company as “the target to beat.”
Musk did share some details, but his production estimate was the one that drew the most interest. In particular, the brand believes this will be the world’s most popular car (electric and non-electric). He didn’t say how long this would be, but his idea is to sell 700 million units during its useful life. As a point of comparison, the Toyota Corolla, one of the best-selling automobiles ever, has sold approximately 50 million units in 58 years. The Tesla Model 2 would multiply this number by 14.
Tesla thinks that to make the Redwood Project viable, it is essential to create a whole new production model that will reduce costs by up to 50% and speed up manufacturing. Its mechanical technology will also be a saving grace. Tesla claims to eliminate rare earth elements and have 75% less silicon carbide in the batteries that will power this electric car.
Its precise manufacturing launch date is unknown at this time. This time, Musk said he is “very optimistic” about being able to begin production by the end of the following year, though he made no mention of mass manufacturing. This aligns with the prediction made a few days ago by Chris McNally, an analyst for Evercore, who also said that the future Tesla Model 2 won’t be widely accepted and available until 2027 in all markets.
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