Next-gen Tesla cars to be smaller & more affordable

Musk also stated that the new platform aims to produce more volumes than "all of Tesla's vehicles combined"

According to media reports, Tesla is said to be working on its "next-generation vehicle".

Speaking at the company's Q3 earnings call, Elon Musk, CEO of Tesla, is said to have mentioned that the next generation of offerings from the company will be smaller & significantly cheaper than the Model 3 & Model Y currently on sale.

Reports suggest, the new models will be underpinned by a brand-new EV architecture. This new platform, combined with the reduced production cost, could translate to a lower cost for the customers as well. Tesla is aiming to introduce new EVs at 50% of the cost of the current Model 3. This means that the next-generation Tesla EV could have a starting price in the range of US$ 25,000 - $30,000.

Elon Musk even stated that with the engineering for the Cybertrucks & Semi now complete, the vehicle development team will now focus primarily on the next-gen vehicles. It will take its learnings from the Model 3, S, X & Y, which should help it achieve its price target.

In addition, Musk also stated that the new platform aims to produce more volumes than "all of Tesla's vehicles combined".

Source: Electrek