Tesla is not working on its $25,000 electric car at the moment, says Elon Musk

by Fred Lambert

Elon Musk confirmed that Tesla is not working on its previously announced $25,000 electric car right now because it has “too much on its plate”.

At Tesla Battery Day in 2020, CEO Elon Musk announced that Tesla will be making a $25,000 electric car.

The CEO commented in the announcement: Tesla will make a compelling $25,000 electric vehicle that is also fully autonomous.

He made it clear that this new price point is achieved through Tesla’s new battery cell and battery manufacturing effort, which could reduce battery costs by over 50%.

At the time, the automaker also released this early design drawing of a small electric hatchback.