“Don’t forget to charge your car!” is something we might all be saying soon…

Because recently Tesla held their Battery Day event where CEO Elon Musk discussed the future of the popular electric car.

Currently, the car is out of many people’s price points and is often just a conversation starter when seeing one drive around (hopefully with someone behind the wheel).

But say what you will, everyone always has something to say about the car or the (sometimes controversial) CEO.

What happened at the event?

At the event, it was brought up how things like in-house mining, technology, operations, and manufacturing improvements will open the door for more affordable batteries. This in turn would create a more affordable Tesla.

Tesla hopes to one day make the cars at a $25,000 price point.

Musk said… “When you think about the $25,000 price point you have to consider how much less expensive it is to own an electric vehicle. So actually, it becomes even more affordable at that $25,000 price point.”

Did they achieve the timeline?

 

This isn’t the first time Musk mentioned the price of Tesla’s. In 2018, he hoped that price point could be reached within three years. And although they are somewhat affordable for everyday folks, for most, it’s still a luxury car.

Sadly, we’ll have to wait a bit for Tesla to be able to mass-produce the cars without losing the quality that makes it special in the first place.

What’s the updated timeline?

Unfortunately, the cheaper price hasn’t been met as of yet, and they’re still facing innovation challenges. Musk stated it would be about another 3 years until they can achieve this goal.

The challenges of technology and finding the right amount of resources for its batteries are proving to be more challenging than they expected. But they are still moving in the right direction.

Recently, Tesla made a new battery cell design that would help it achieve its timeline goals. The design gives 5X the energy density of existing cells, with an overall 16% improvement in the vehicles.

Now tell us what you think! Do you think Elon Musk’s timeline is realistic and that they’ll find the resources to be available for most people? Should everyone be committed to eventually owning an electric vehicle? Let us know in the comments below!

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