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Tesla's $25,000 China-Made Compact Car To Sell Globally

Tesla China, which is set to design a new compact $25,000 Tesla in Shanghai, will eventually sell the model worldwide, Teslarati reported on Tuesday, citing a recent interview of Tesla China's President Tom Zhu with Chinese state-affiliated media outlet Xinhua Net.

According to the executive, Tesla China's new compact and cheaper electric vehicle will be designed at the Shanghai factory's research and development (R&D) center, which is already under construction. 

"This R&D center is also the first Tesla R&D center outside the United States. The research and development center has all necessary disciplines, covering vehicle design, vehicle engineering, vehicle development, and vehicle testing," Zhu told Xinhua Net.  

Tesla China's ultimate goal is to design and manufacture an original vehicle in China and to sell it outside China as well.

"We will provide very good conditions to facilitate our R&D Engineers working towards our ultimate goal. The ultimate goal has been mentioned on many public occasions. In the future, we want to design, develop and produce an original model in China, manufactured here and sold to the whole world. This R&D center is the starting point of the goal," Zhu told the Chinese news outlet, as carried by Teslarati.

Earlier this year, reports emerged that Tesla might be closer to producing the US$25,000 electric vehicle sooner than the market thought. According to documents in Chinese about the Gigafactory in Shanghai shared on Twitter by Tesla fans, the Tesla "Model 25k" could be coming out of China as soon as 2022. The previous assumption was that so cheap a Tesla would hit the market in 2024-2025, according to Tesla Facts.

"Tesla could import them to Europe and offer them for €24,900 - addressing vast majority of the European automotive market by revenue," Tesla Facts says, noting that by using Model 3 chassis as basis "they won't compromise on safety."

By OPC Markets

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