As competition becomes increasingly cut-throat, Tesla CEO Elon Musk announced plans to introduce a new entry-level electric car to drive growth. The news of the “next-generation platform” grabbed the headlines in discussions at Tesla’s first investor day held at its
factory in Texas early in March. A lower-priced car is seen by Wall Street analysts as essential to Tesla’s goal of selling 20 million vehicles a year by the end of the
decade, up from the 1.3 million it sold in 2022.
Besides showing off a new manufacturing protocol called “Unboxed Process” for next gen vehicles, which will eliminate rare earths and use paint only on essential parts, the maverick billionaire chalked out a vision to run the world on sustainable energy without destroying habitats. The plan, the latest in a series of ambitious plans that have met middling success, involves building massive electricity storage capacity, which will cost $10 trillion.
A new baby Tesla in the works
