Elon Musk announced that Tesla's affordable electric vehicle will be similar to the Model Y during the second-quarter earnings call. He emphasized that the main barrier to EV ownership is financial accessibility, stressing that affordability is crucial for widespread adoption. Although details about the new model's release date were not provided, Musk mentioned its self-driving features, which could enable owners to rent out their vehicles and generate income. He expressed confidence that this vehicle rental system could be operational in the US by next year.
Elon Musk stated that Tesla's budget EV will closely resemble the Model Y, revealing this information during the company's second-quarter earnings call.
Musk believes affordability is the primary barrier preventing people from owning EVs, claiming that more affordable options would enhance accessibility.
The self-driving capabilities of the new model will allow customers to rent their vehicles, potentially giving them a way to earn money.
Musk expressed confidence that Tesla customers may be able to rent out their vehicles as part of a fleet by next year in the US.
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