Tesla is preparing to introduce an affordable version of its best-selling SUV, the Model Y. The new electric car could cost less than ₹25 lakh. Learn how Tesla’s new strategy could change the EV market.
Electric car manufacturer Tesla is preparing to introduce a new and affordable version of its best-selling SUV, the Model Y. The company is expected to launch the new model soon. This move comes at a time when Tesla’s sales are declining and competition is increasing. The company’s new Model Y will be based on the existing design and production platform, but its price will be significantly lower than before so that more people can afford it.
Elon Musk promises: We will bring cars to the masses.
Tesla CEO Elon Musk has long talked about bringing affordable electric vehicles. However, last year he canceled plans to make a new EV (electric vehicle) for $25,000 (about Rs 22 lakh). The upcoming model is being considered a step in that direction. Tesla recently posted two short videos on the social media platform X (formerly Twitter). In one video, the headlights of the car are visible in the dark and in the second video, a rotating wheel is visible. At the end of the video, “10/7” is written, which means that something big is going to happen on October 7.
How affordable will the new Model Y be?
According to experts, the new Tesla Model Y could be priced under $30,000 (approximately Rs. 2.5 million). The company previously stated that this price would be within an “affordable range,” including tax credits. Last month, the expiration of EV tax credits in the US led to a price increase of approximately $7,500 (Rs. 6.2 million). This led to a temporary boost in sales, but now it is expected that demand will increase again after the launch of the cheaper Model Y.
Declining sales and increasing competition:
Tesla currently faces stiff competition in China and Europe. Chinese companies like BYD are rapidly capturing the market. In the European market, affordable, local brands are also growing rapidly. The company launched a refreshed version of the Model Y earlier this year, featuring updates like new light bars and a rear touchscreen, but this hasn’t significantly improved sales.
AI, Robotaxi, and the Future of Robotaxi:
These days, Elon Musk is moving Tesla not just as a car company but as an AI-based technology company. His focus is now on technologies like robotics and humanoid robots. Tesla’s goal is to deliver 20 million vehicles over the next decade. This is a lofty target linked to Musk’s incentive package, which values the company at $1 trillion.
The company’s next preparations:
Tesla is also working on a plan to introduce a cheaper version of its Model 3 sedan. The company wants its future electric cars to be not only technologically advanced but also affordable for the average consumer. Tesla’s new Model Y is part of the company’s strategy to make electric vehicles more accessible and mass-market friendly. If this car truly comes at a lower price, it could prove to be a game-changer for Tesla.
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