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Fortune
Fortune
Christiaan Hetzner

Elon Musk claims Tesla is ‘quite far advanced’ in developing game-changing low cost EV to be built in Texas

Tesla CEO Elon Musk (Credit: Slaven Vlasic—Getty Images for The New York Times)

Tesla is well on its way to engineering its $25,000 electric car, Elon Musk claimed, raising hopes that the EV manufacturer would soon return to the extraordinary growth rates of the past.

Musk said the entry-level Tesla, predicted to sell by the millions annually, would “blow people’s minds” thanks to a revolutionary manufacturing method he believes is far in advance of anything else found in the industry.

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