Tesla's Musk promises dramatic cuts in EV costs

Tesla Battery Day-MAIN.jpg — Tesla CEO Elon Musk, right, said the automaker will be able to sell an affordable $25,000 electric car by 2023. (COMPANY LIVESTREAM)

R

By:

Reuters

September 22, 2020 09:58 PM

CEO Elon Musk outlined Tesla's plans to cut electric vehicle battery design and manufacturing costs so radically that a $25,000 car that drives itself will be possible, but the automaker's shares slipped as Musk forecast the change could take three years.

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