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Tesla plans on the electric budget car after an excruciating week

Tesla plans on the electric budget car after an excruciating week

The never-ending surprises from Elon Musk, the CEO of Tesla kept coming this week. In an interview with YouTube user, Marques Brownlee decided to have a sit down chat with Mr. Musk. While Elon Musk is known for fighting the stream of battles this week was considered one of the worst by him. And why wouldn’t he after dropping in share price, a bad interview with a famous magazine and top it off, some allegations regarding drug trafficking? So to cheer the Tesla fans, Elon came up with the announcement of the company’s budget electric car production which is decided to kick off by 2018 end.

Reason behind

The interview with the YouTuber who himself is a Tesla fan revealed Mr. Musk’s future plans making the video go on trending. At the time of the interview, Elon Musk was busy handling the chaos after his famous tweet on achieving the funding for his company to take the company private. Probably the biggest trouble is when the Securities and Exchange Commission decided to start off an investigation after catching up with the tweet. While the mood is dull, the video was posted to cheer up the Tesla fan base.

Needless to say, investors and shareholders are not part of it, and a whole new interview should be posted to elite them for now. They are restless concerning the company’s share price drop of around 60$ which has rarely happened in the recent years.  The timing went bad when Elon Musk decided to give an interview with the famous New York Times. In the interview, Elon was discussing his past year and the struggle he went through during the said time period. However, nothing helped when all these factors hit at the wrong time.

Moving on with some good news, Tesla decided to start off with the production of its budget electric car which is said to be around the range of $25000. It is Mr. Musk’s dream to bring an affordable electric car to the mass market. However, the company will continue to manufacture high-end cars to keep the company running. With the budget cars expected to start production around the end of 2018, the range can be around $30000 depending on the version.

Future plans include production

Future plans include the production of two different vehicles at the same time. With the present stock of crossover model Y joins a Tesla pickup truck. The eyebrow-raising fact is that the company has only recently started making money out of the Model 3 car. With the semi tractor-trailer and next-generation roadster in the pipeline, Tesla sure does have a lot to do.

To help Mr. Musk on decision making and keeping up with the production, the company is on the lookout for a Chief Operating Officer. But everyone knows that there is no cross-talk with Elon Musk. Apart from the interview cheering up fans and Musk, the rest is to wait and watch.

About the author

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Brett Kotas

Brett Kotas is a writer and trader. Bitcoin enthusiast, investor, and adviser. Passionate about cars. Currently President & CEO of Block Pointe Capital LLC.

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