Tesla confirms: Under the Tesla Model 3 there will be an electric car

Tesla sometimes says one thing, sometimes the other. At least CEO Elon Musk does. Because first there would be a cheaper Tesla (below the Tesla Model 3), then not again, and now there it is again.

Musk announced this week that Tesla is working on a new platform. It costs half the platform the Model 3 and Model Y stand on, he says, so it lends itself to developing more affordable electric cars.

More compact Tesla to come in 2023

In the past, Tesla has talked about an electric vehicle with a starting price of $25,000. Musk even once announced that it would launch in 2023. Needless to say, that won’t happen.

Earlier this year, Musk said Tesla’s focus is now on the Optimus robot and ramping up Model Y production. He hinted that a cheaper Tesla is no longer on the agenda.

Lower cost than the Tesla Model 3 platform

He came back to it last week. “We’re done with the Cybertruck and the Semi. The development team is now working on a new generation of electric vehicles. The platform will likely cost half that of the Model 3 and Model Y platforms. It’s also smaller.”

Do we believe Musk? partially. Tesla is undoubtedly working on a more compact, affordable platform, but we reckon that will save half the cost. The Model 3 would start at $35,000, Tesla once promised, but the current starting price in the US is $48,000.