Elon Musk promises to make a $25,000 Tesla in 3 years

The advances could ultimately cut battery costs more than 50% and increase the distance Tesla’s vehicles can travel by nearly as much. That would set the stage for the company to make a “compelling” $25,000 electric vehicle three years from now, Musk said, speaking to a parking lot full of Tesla owners in their vehicles, honking in approval.

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