Tesla exec shares game-changing plans to cut costs for new models: 'It is an unprecedented change'
Exciting milestones are a dime a dozen in the tech industry, but it's always nice to hear about them, with this one coming in the electric vehicle market. Per Teslarati, Tesla chief financial officer Vaibhav Taneja said, "While we feel confident in our team's abilities to ramp production quickly, note that it is an unprecedented change."
He was referring to the cost of goods per vehicle, namely that it's heading south while it seems like everything else is heading north. As of February, a base Tesla Model 3 carried a sticker price of $38,990, with the base Model Y at $44,990.
In fact, Tesla is beginning production on the next-generation Model Y, which will probably push the price of the previous generation down as well. The rear-wheel-drive Model Y has a 260-mile range, while the Model S has a 405-mile range, per InsideEVs.
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Considering that a gasoline engine releases roughly 20 pounds of carbon dioxide into the atmosphere per gallon of fuel burned, opting for an EV is an effective choice for our health and that of the environment.
Tesla's lower costs will likely boost consumer appeal. Customers who take the plunge will save money in the long run while reducing their carbon footprint and helping the environment.
While other EV manufacturers have caught up with Tesla in terms of EV tech and manufacturing capabilities, Tesla tends to set standards, while others follow suit.
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For instance, it recently landed an $87 million deal in Belgium with Energy Solutions Group to provide Megapacks for energy storage.
As attractive as lower prices, long-term savings, and the future of EV tech are, there is still a major hang-up: charging stations. Doubtlessly, a lot of people would love to make the switch to an EV if not for infrastructure limitations.
But charging stations continue to expand. In the meantime, Tesla is steadily producing new Model Ys at a reduced cost, which is good news for consumers.
"We are not aware of anybody else taking the best-selling car on the planet and updating all factories at the same time," Taneja said.
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Tesla exec shares game-changing plans to cut costs for new models: 'It is an unprecedented change' first appeared on The Cool Down.
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