Tesla has announced its plan to reduce the price of its next generation of vehicles in half through innovative manufacturing techniques and smaller factories during its investor day presentation in Texas. The company hopes to offer the upcoming vehicles for approximately $25,000, but details on their size or design have not been released yet.

Elon Musk, Tesla’s CEO, emphasized the importance of transitioning to sustainable energy and reducing reliance on fossil fuels during the presentation. He also highlighted the company’s unique approach to vehicle design and manufacturing, which utilizes cutting-edge technology and automation to increase efficiency and reduce costs.

Tesla’s plans for cost reduction and improved manufacturing processes are part of its expansion strategy to meet the growing demand for electric vehicles in the region. The company announced plans to build a new factory in Mexico, but the location and estimated cost of the new factory have not yet been disclosed.

One significant change in strategy announced by Tesla was the opening up of its Supercharger stations to other electric vehicle (EV) owners. The move aims to promote the adoption of electric vehicles and expand the charging infrastructure for EVs. Tesla’s Supercharger network is one of the most extensive and reliable charging networks for EVs, and experts in the industry have welcomed the decision.

Tesla also revealed its plan to achieve a 50% annual growth rate for the next few years and increase its annual production capacity to 20 million vehicles per year, a significant increase from its current capacity of around 1 million vehicles per year.

The global auto industry is shifting towards electric vehicles, with many countries setting ambitious targets to phase out gasoline-powered cars in the coming years. Tesla has been at the forefront of this shift, with its innovative approach to vehicle design and manufacturing, as well as its Supercharger network, making it a leader in the EV market.

Tesla’s plans to reduce the cost of its next-generation vehicles by half is a significant step towards making EVs more affordable and accessible to a wider audience. The move could also help Tesla to expand its customer base and increase its market share, as more people look to switch to electric vehicles in the coming years. Overall, Tesla’s investor day presentation was a significant event for the EV industry.