Elon Musk unveils first sub-$30,000 Tesla: It’s futuristic, strange and extremely efficient

The new development is significant for the EV market as Tesla, the market leader, recently affirmed its intention of launching a sub-$30,000 car in the first half of the following year. 

This car, less formally known as Model Q, cuts a new phase to Tesla’s market reach with enhanced design and efficiency.

For Musk, the future has been to disrupt the conventional automotive industry and offer innovation to the common man.

Tesla’s affordable EV gamble: breaking barriers with Model Q
The Model Q now unveils Tesla’s forward-looking strategy of conquering the mass-market electric vehicles category. 

While previous models focused on the premium segment, this new model appeals to frugal consumers while continuing with unique innovations to Tesla’s models.

After subsidies, the Model Q is sold at BYD’s recommended price below $30,000. 

After subsidies, the Model Q is meant to compete with vehicles such as the Chevy Equinox EV and the BYD Dolphin. 
The new vehicle is expected to be 15% shorter than the Model 3 and 30% lighter than the Model 3, increasing its utility and profitability.

Tesla is hopeful that it will rely on its current production lines, thus cutting costs and, at the same time, shortening the delivery period.

 However, the Model Q will be a smaller car with fewer frills, and even so, it will bear all the hallmarks of a Tesla, which will help it stand out in an increasingly crowded market.

Most importantly, the Model Q is strategically consistent with Tesla’s growth plan. 

Since the Model 3 is cheaper, Tesla aims to gain a more significant market share and increase production by about 20%-30%. 

This vehicle can potentially revolutionise the company’s operations worldwide by bringing affordable EV ownership to the masses.

Ref: Elon Musk unveils first sub-$30,000 Tesla: It’s futuristic, strange and extremely efficient (riazor)