Tesla has been able to reduce production costs by just under 60%.
After many price increases on the electric vehicles and production issues, the EV company has recently revealed the plans for the company over the next five years. Speaking at the Goldman Sachs tech conference in San Francisco, Martin Viecha, Tesla’s boss of investor relations, summarised the company’s optimisations. According to The Insider, Viecha said:
“EV architecture is so different from internal combustion engine, it allows for a third revolution in automotive manufacturing,”
Claiming that Tesla is in the third revolution, Viecha explained that the optimisations in the production process have enabled Tesla to bring production costs down from $84,000 in 2017 to $36,000.