Tesla chief financial officer Zach Kirkhorn said the plan is to invest a whopping $175 billion in order to increase car output to 20 million vehicles annually by 2030.
An Investor Day presentation by Tesla executives have fueled expectations for an array of affordable electric vehicles from the leading EV maker, but chief executive Elon Musk did not divulge key details.
Tesla engineers told investors that the cost of future Tesla cars would be nearly halved, making the brand affordable to more people and keeping competition at bay.
According to an AP report, investors were told that the changes in the works would mean that the cost of a new generation Tesla vehicle could start from as low as around $25,000.
At one point during the presentation, Musk pointed out that though demand for Tesla vehicles is large, many buyers can’t afford them.
