Elon Musk promises radical change at Tesla in potential game-changer

Tesla plans to produce a vehicle every 45 seconds, and Elon Musk promises to cut the cost of EV production in half.

On March 2, the US-based automaker Tesla stated that it will decrease the cost of assembling its upcoming models in half. 

But, Chief Executive Elon Musk did not specify when the company would introduce a long-awaited, reasonably priced electric vehicle.

Tesla officials, lead by Musk, spoke to investors about a range of topics, including the company’s innovative approach to managing its operations from manufacturing to service, as well as a white paper plan for the world to adopt renewable energy.

Tesla’s presentation also provided information on the third master plan for the business, which is focused on a “sustainable energy future.”

The expansion of new models and battery storage were outlined in Musk’s last two master plans, which were both published in 2016.

Tesla may establish a global electric car fleet of around 85 million vehicles, Musk predicted, adding  “All forms of transport will probably be electric. But not rockets, at least for now.”

Musk did not indicate when the next generation of vehicles will be on sale or which models would be available, despite expectations that he would outline Tesla’s strategy for creating a more inexpensive EV.

The car will have a production footprint that has been reduced by 50%.

Tesla CFO Zachary Kirkhorn claimed that between the first-generation Models S and X and the second-generation Models 3 and Y, the company had slashed expenses in half.

With the upcoming generation, it intends to repeat that strategy while also making improvements to the vehicles.

Officials said that the next-generation platform for Tesla will support many vehicles produced in standardised factories, while Musk dismissed inquiries about potential new models.

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