Tesla aims to make its future cars cheaper by streamlining production processes.
CEO Elon Musk and various other managers hinted at a number of changes during their investor day presentation – dubbed the ‘Master Plan’ – touching on developments for electric motor technology and ways to speed up the production process.
However, the introduction of a new, cheaper model – which was rumoured to be announced – was left out of the presentation.
It was confirmed that the much-anticipated Cybertruck would enter full production this year, too. Bosses spoke of fundamental changes in the build process, with a reduction factory size and a reduction in the risk of delays helping to make the whole production line more efficient.
Tesla aims to reduce costs by 50 per cent alongside a 40 per cent reduction in the manufacturing process by increasing the efficiency of the manufacturing process.
Jim Holder, editorial director of What Car?, commented on Tesla’s plans: “One of the barriers to mass adoption of electric vehicles is price as EVs continue to command a premium over their internal engine counterparts. Tesla’s announcement to halve assembly costs for its next-generation cars suggests this gap will soon disappear, though details of its affordable electric vehicle and its entry price remain under wraps for now.
“What is clear is that for markets like the UK, an affordable electric vehicle with efficient battery technology is key if the 2030 and 2035 Government targets are to be met.”
Tesla also targets a production figure of 20 million vehicles per year through these simplifications. This will also come through the creation of new factories, including a new gigafactory in Mexico. Musk stated that it will ‘expand production’ at all of its existing factories, too.