Tesla CEO Elon Musk is determined to introduce an electric car with 200 miles per charge at a an affordable price tag of less than $40,000 in the coming three to four years, reports Bloomberg.
Elon Musk says that the company is looking toward building an eco-friendly economical car in the future unlike its Model S, which comes with a hefty price tag. Musk hopes to deliver an electric car within the next four years. As a company, Tesla is doing pretty well as it reported its first profitable quarter with an income of $11.2 million, a sharp rise from the nearly $90 million loss reported a year ago.
Musk also referred to Nissan's electric car, the Leaf, which comes with a price tag of approximately $38,000, saying that although affordable, the car does not meet the standards of great performance and luxury. He said that Nissan Leaf EV was "cheap, but it's not great".
Tesla has been making the headlines for some time now. The Silicon Valley-based company surprised everyone by paying off its $465 million loan from the Department of Energy last week, nine-years earlier than it was due. The company must be doing something right to pay such a huge bill. Furthermore, Tesla was recently at the center of a controversy for its online car-selling techniques. State legislators proposed a bill to ban such sales as it gives the company an unfair benefit over other car-makers.
According to Musk, what the world really needs is "a great, affordable electric car," adding firmly "I'm not going to let anything go, no matter what people offer, until I complete that mission."
