Tesla aims to release $25,000 electric car in 2023, likely will not have a steering wheel

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Elon Musk Confirms Development of More Affordable SUV

Elon Musk, the CEO of Tesla, has recently confirmed that a new, more compact and affordable SUV is currently in development. Unlike on Twitter, Musk revealed this news during a shareholders’ meeting, where he had to showcase to investors that their money is going towards a good cause, one in which electric cars are becoming more common.

The new SUV would be more affordable compared to the current Model Y, making it a great investment for those who previously couldn’t afford an electric car. Many are already referring to the vehicle as the “Model 2.”

Cost of the New Vehicle

During the meeting, Musk stated that the new vehicle would cost about half as much as the Model 3 and Y, with a possible price point of $25,000. This is a massive advantage for the company, as it will only further democratize their products.

Further Announcements from the Meeting

The Tesla meeting wasn’t just about the new affordable SUV, as Musk had more than one surprise up his sleeve. The CEO confirmed that he is contemplating building a new factory in Mexico to manufacture his new models, which would further improve the company’s production rate.

But the announcement that got everyone talking is the development of a mysterious second vehicle. Many believe it could be the highly anticipated autonomous taxi, which has been a long-time goal for the company. Sadly, Musk clarified that “shared rides will not be relevant in the world of autonomous driving,” hinting that he’s working on something different.

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Musk’s focus seems to be on creating a total autonomous driving system. It raises questions about whether he’s developing his AI to go further in this regard.

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