How Elon Musk plans to get 1M Teslas on the road by 2020
Tesla CEO Elon Musk thinks you’ll be seeing a lot more of his cars on the road by 2020.
The Palo Alto-based electric car company projected that there will be a million Teslas on the road within five years and revealed plans for its upcoming Model 3 on Monday at a conference in Washington, D.C., according to the Wall Street Journal.
So what will bring about this uptick of Teslas on our freeways?
Tesla’s Model 3 will be available as sedans and crossovers with 200 miles worth of battery range by 2017, according to the company. JB Straubel, Tesla’s chief technical officer, said on Monday that Tesla is developing cars to follow the Model 3, but didn’t elaborate further, per the report.
The Model 3 will cost around $35,000, making it affordable to middle-class drivers who want to go electric. The $70,000 starting price tag on previous Tesla models placed it squarely in the luxury market, and out of reach for most drivers.
Part of the reason Tesla’s will drop in price is that lithium-ion battery technology is becoming so inexpensive and available that electric powertrains will become an increasingly practical replacement for internal combustion engines in light vehicles, according to the Journal. Tesla is building a battery plant in Nevada to accelerate the shift, with plans for more factories in the future.