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Elon Musk reveals production plans of 'low-cost' Tesla model: 'The revolution [of] that car will blow people's minds'

It's a bold statement, but it's also a bold project.

It's a bold statement, but it's also a bold project.

Photo Credit: Getty Images

Tesla CEO Elon Musk has teased plans to bring a low-cost Tesla to the electric vehicle market. 

Appearing on the Munro Live YouTube channel, Musk said the company has made significant progress on the development of an affordable model. 

"I review the production plans for that every week," he told host Sandy Munro. "The revolution in manufacturing that will be represented by that car will blow people's minds."

It's a bold statement, but it's also a bold project. Musk said in 2020 that he was looking to deliver such a model at around the $25,000 mark, per The New York Times, and it appears he's standing by that desire.

Musk added in the Munro Live interview that the first production line will be in the Texas Gigafactory, but it will be moved to the Mexico Gigafactory when that facility is completed — and Tesla recently received a boost on that development after Mexico granted the company a land-use permit.

Tesla's energy seems to be on rolling out the Cybertruck at full capacity, with only a handful making their way to customers after the November delivery event, so it may still be some time yet before the expected affordable car hits the road. 

But that doesn't mean motorists looking to swap their dirty-fuel powered vehicles for a cleaner, all-electric Tesla have to wait until then to grab a bargain.

As Forbes contributor Brooke Crothers observed, the Tesla Model 3 is perhaps the cheapest it has ever been, and with customers in the United States able to access the $7,500 tax credit for electric vehicles until the end of 2023, in addition to possible state rebates, the savings could be even greater.

Crothers says that a rear-wheel drive Tesla Model 3 could be possible to buy at around $25,000 with these discounts factored in, not to mention the possibility that Tesla may reduce prices further as it looks to clear stock ahead of the upcoming Model 3 "Highland" variation.

That puts the Model 3 in the region of what Musk had predicted the company's low-cost model will cost, and you won't have to wait. 

For those looking to limit the pollution they produce on a daily basis, there's a relatively cheap way to invest in a zero-tailpipe-emission vehicle now rather than hoping the new affordable Tesla emerges sooner rather than later. 

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