we're also watching shares of Tesla today popping in pre-market trading as we are getting reports out of its operations in Germany according to a Reuters report the eveve maker is working on a more affordable vehicle in its Berlin Factory that would cost about €25,000 which is well below the average price of an EV in Europe which Autos research from jetto dnam uh jetto Dynamics has found to be over 65,000 in the first half of 2023 here um you think about where the price in strategy has has continued to either come into question or just be more made known at Tesla especially given around the world where they're looking at different regions and figuring out exactly at what price point they're not only able to perhaps catch the eye or cap cap the Mind share of potential buyers out there um but then also at the same time where they can set the base price so that they can also see some sort of upgrade because the packages as well that they're laying on on top that's where some of those margins really come into play yeah exactly and I think obviously getting a uh more affordable EV is huge when we talk about EV Mass adoption what exactly is needed to really get those numbers significantly higher from where they are today many analysts that we have talked to and even uh Auto Executives here over the last several months going back several years they talk about the fact that they need to make EVS a bit more affordable in order to uh really increase adoption number so you take into account this potential PR price tag if this report is correct here about Tesla Dev veling a cheaper EV would equate to just about $27,000 here in US Dollars that's considerably cheaper than what is on the market right now from Tesla taking a look at the model 3 right now and that starts just around just below 39,000 so obviously many of their cars and that's the lowest end of their cars right so many of them are much more expensive people certainly cannot afford it in this environment right now and also coupling that with the higher rate environment obviously makes uh more expensive cars less affordable to more and more people when you talk about exactly what needs to happen to get to the that mass adoption we know Tesla has time and time again laid out the fact that they are aiming to increase vehicle deliveries to 20 million by 2030 they need a cheaper vehicle you would think abut in order for that number to be attainable so if this in fact is true they are building a cheaper EV this could be a huge opportunity for Tesla and then we'll also see what that means for some of their competitors out there too and this particular Factory this gigafactory Berlin Brandenburg particularly it is known for making the model y however you think about the overlap and the synergies that they have in production between the mass Market model 3 and the model y 75% of the model Y is actually the model 3 and so all of that considered that production kind of manufacturing uh ability and the overlaps there perhaps that gives them a little bit more of that ability to crank out more vehicles within this uh Berlin gigafactory as well over the future too to hit some of those goals you mentioned
