Elon Musk promises a more compact and cheaper Tesla but years ago he said the same thing and nothing has happened

Elon Musk he is not going through his best financial moment, that is a fact, and to a large extent it is all due to the financial mess in which he finds himself Tesla Motors.

As we reported a few hours ago, the richest man in the world would have actually lost a fortune of almost USD $110 billion so far this year. All largely because of the collapse in the value of his car company’s shares on the stock market.

Although Musk remains the subject with (in theory) the most money in the world, the truth is that he is no longer so far from the fortune of Bill Gates and Jeff Bezoswho at least have much more stable assets and an apparent better capital income.

This has not made Elon lose the routine of his character and he has remained active with his presence on the net, now rescuing from his repertoire an old classic that perhaps many no longer remember:

Elon Musk promises a cheaper Tesla again

According to a report by colleagues at electrekMusk has confirmed that his company Tesla Motors is still eyeing the project of developing a cheaper and more accessible electric car for the consumer:

“Obviously that is now the main focus of our new vehicle development team. At this point, we are done with the engineering for the Cybertruck and the cargo truck.

So obviously that’s what we’re working on, the next-generation vehicle, which is probably going to be about half the price of the Model 3 and the Y.”

This would have been affirmed by Musk during his most recent call with investors after the publication of the company’s third quarter 2022 earnings report.

Where he also detailed that this new cheap car will be smaller, a compact. He assured that he would take everything he learned from the Model S, X, 3, Y, Cybertruck and the Cargo Truck to create a better car with a 50/50 sale price.

However, it is necessary to remember that this is not the first time that Elon Musk has told us about a more compact and cheaper Tesla.

Back in 2020, at the beginning of the pandemic, the executive set up an event called Battery Daywhere for the first time he spoke about this project.

At that time, the initial concept of a cheaper Tesla detailed that it would have more advanced batteries and would not include parts present in the more expensive options.

But then there was a two-year silence and now Musk has picked up the theme with some slight changes, where the project is now basically focused on downscaling an already existing model.