Elon Musk’s BRAND NEW Cheapest Car SHOCKS The Industry: In 2008, Tesla’s first electric car, The Roadster, rolled off the production line and hit the market. It was sold for a whopping $109,000, making sure it’s a car made available only to the rich and wealthy.
Since then, electric cars have been the best new thing in the automotive market. Musk says it would be financially insane to buy anything other than a tesla (0.56-1.14), and with this new reveal, we can’t help but agree with him.
Pros of Driving an EV Tesla discovered that their first EV, the Roadster, had efficiency ratings equal to a gasoline mileage of 135 miles per gallon. That’s something you can never achieve in a gasoline-powered car. You would need to travel at least 57 kilometers on a liter of fuel to beat that.
The most significant advantage of driving an EV is the positive impact on the environment. Pure EVs don’t have tailpipes; there’s no smoke. The lack of exhaust gasses reduces air pollution, especially in congested cities where air pollution is a serious issue.
Another thing EV drivers enjoy about driving an EV is the lower running costs. On average, it costs less than 2 dollars to drive an EV for 100 miles. For an ICE car, that number increases by a multiple of 7. It costs $14 to drive a petrol car for 100 miles.
In most cities, electricity costs less than gas and is hardly affected by economic problems, so you wouldn’t have to spend so much to keep your car on the road. Your EV can stay longer on the road without constant visits to the auto shop. Because it has fewer mechanical parts, you don’t have to spend much on servicing and maintenance.
With an electric car, you are exempted from the regular oil change. Apart from not having to visit the mechanic every time, an EV is more reliable and won’t die on you unless you run out of batteries. That’s not even the best part about driving an EV.
EVs drive better than gasoline-powered cars, they have a more responsive acceleration, and you can leave other drivers in the dust at every green light. When other drivers are still sprawling in the first gear, you’ll be on your way already, making them wonder what you have beneath the hood.
It would shock them to see you don’t have anything at all. EVs are well-balanced and handle better compared to most gas-powered cars. This is all due to a lower center of gravity achieved by the placement of the battery pack. This also helps with safety and comfort.
Tesla places its battery pack under the floor of its cars, and most electric car manufacturers are doing the same. The weight of the battery car makes it more balanced. If you love solitude, you better stack some funds in your bank account and buy a Tesla.
The quietness of electric cars is a very cool feature. EVs are silent compared to gasoline-powered engines. They are so quiet that requests have been made that carmakers should add artificial engine noises to alert other drivers on the road to the presence of an electric car.
When you want to go on a lonesome drive or play your music, the experience is eerie. Why EVs Are Expensive EVs are quite pricey and cost more than the average gasoline-powered car. That price only becomes reasonable when you add up the cost of driving and owning them for a few years.
With Elon Musk planning to give us a $5000 Tesla car, everyone will be able to afford EVs as they will be about ten times cheaper than the average gasoline-powered car. EVs are out of the reach of many buyers because they are expensive.
According to Kelley Blue Book, the average price for an EV is $56,437. This is about $10,000 higher than the industry average of $46,629 for gasoline-powered cars. The standard EV has a price equivalent to that of an entry-level car in terms of pricing.
An EV comprises three major components, the drive unit, transmission, and the battery pack. Of these three components, the battery pack is the most expensive one. The high cost can be attributed to the battery technology used: Lithium-ion. Lithium-ion cells have been around for quite a while.
They are used in our personal gadgets and many other battery-powered devices. Electric cars need bigger batteries, and the usage cycle takes a tremendous toll on the batteries. Lithium-ion batteries for EVs are costly due to the materials required for manufacturing them.
These batteries are made using rare earth metals like Lithium, Nickel, and Cobalt. These metals are not readily available and are situated in countries with political instability, making mining them a problem. Mining the metals and processing them to be used in EVs is also an expensive process.
The battery pack takes up about 30 to 40 percent of production costs in every EV. While battery technology is the primary reason EVs are so expensive, they are not the only reason. Other factors bump up the prices of EVs. You have to consider research and development costs.
EVs are basically new technology, with billions of dollars spent on research and development before building a working prototype. Manufacturers invest not just money but also time and effort that could have been put into other ventures; every component has to be designed explicitly for the EVs.
This high manufacturing cost reflects the car’s actual price after production. The cheapest Tesla is the Model 3, which starts at $46,990. Even at this pricing, Tesla has no problems selling its cars.
Still, Musk has gone out of his way to make EVs cheaper for everyone, and he has the solution.
Elon Musk’s Solution!
He is an environmental enthusiast, and he sees everyone owning an EV as part of the solution to climate change.
Musk has devised solutions that will make EVs ridiculously cheap. In 2020, the Tesla CEO announced that Tesla would be making a $25,000 car. Musk believes that the price of EVs can be lowered to that price. People will feel more inclined to buy EVs instead of gas cars.
The demand for EVs is rising, and Musk wants to live up to the supply. Musk has promised that this cheap car will offer practical driving ranges so drivers wouldn’t be so quick to dump them.
Driving Range is tied to anxiety, and it could chase potential buyers away. The $25,000 Tesla will be known as the Model 2. This hot hatchback has been leaked several times. Musk has revealed that the car will be made in China, from where it will be exported to the rest of the world.
Design and testing have been completed in China. A prototype has been built, and the next step is mass production.
How Did Tesla Reduce Costs?
Tesla is the leading company for battery technology among other EV makers, thanks to in-house research and development.
Tesla’s new battery is known as the 4680, and it is lighter than regular batteries, making it perfect for small cars. Musk doesn’t have to worry about battery weight; he has that figured out. The battery has a higher energy density, so the battery pack can be smaller and offer a practical driving range.
This battery will also help reduce manufacturing costs because Tesla has tweaked the materials used in the pack. Tesla has found a way to use the most abundant materials among all the possible options, so it doesn’t have to spend more money acquiring the hard to get materials.
The manufacturing process is faster, simpler, and less expensive. The buyer pays for every cost incurred, and Tesla has managed to cut down on overall manufacturing prices. With its gigapress, car manufacturing has been revolutionized. This machine allows parts to be made from a single piece of metal.
The Model Y’s Chassis will be made from just two pieces, covering the front and back ends. This means Tesla has fewer pieces to manufacture. Musk sees the removal of control features as another way to cut costs from the cheapest Tesla.
Your car will be delivered to you without steering wheels or pedals. That has to be unnerving. The car will do all the accelerating and braking. You won’t have to concern yourself with any of that. It will be capable of full self-driving without assistance as it will be equipped with Tesla’s autopilot software which is presently the best in the market. Just sit back and enjoy the ride as the car takes you to your destination.
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