According comments made on Twitter by Elon Musk, Tesla CEO, a “low cost, compelling electric car” is “3 to 4 year away” from being a reality. Along with stating that is has always been a dream of his to create such a product, Mush also elaborated that he wished it could happen sooner. This thought raises the question as to whether the is is the demand for such a vehicle or the technology. Or a third option could be perhaps the possibility that Tesla currently lacks the capital to invest in such a product. Tesla recently announced it would delay its Model X crossover, preferring to repay its DOE loan quicker.
Tesla reps has indicated in previous reports a 3 Series rival was in the works, priced at around $30,000. The projected launch was for 2015 at that time, but now it appears as though it would be 2016 at the earliest. However, it there is any automaker that can make a compelling and affordable electric car, it’ll be Tesla. Tesla has proved that there is a market for EVs with the right balance of performance and luxury, while other automakers are struggling to get their electric vehicles off the ground and into the market.