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Tesla vows to halve EV production costs, Musk keeps affordable car plan under wraps

Tesla Inc (TSLA.O) will cut assembly costs by half in future generations of cars, with a total investment bill of $175 billion for its long-term target of 20 million vehicles annually by 2030. Tesla is struggling to scale up the production of advanced batteries.

1 min read
  • Tesla Inc (TSLA.O) will cut assembly costs by half in future generations of cars.
  • Tesla's next generation platform will include more than one vehicle built in standardized factories.
  • Investment of six times more than current level will be required to hit its long-term target of increasing output to 20 million vehicles annually by 2030.
  • Tesla's chief financial officer estimated total investment bill could be $175 billion.
  • Tesla is struggling to scale up the production of advanced batteries, called 4680s.
Tesla vows to halve EV production costs, Musk keeps affordable car plan under wraps
Shares fell more than 5% in after hours trade following the company's investor day from its Texas headquarters.
Reuters

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