San Francisco: Tesla Chairman and CEO Elon Musk plans a mass-market of electric vehicle priced as low as $25,000.
While giving an interview to a leading newspaper, a tearful Musk said, "That's something we could do. If we work really hard i think maybe we could do that in three years."
Musk said in the YouTube interview that he hoped to scale production at Tesla and lower their design and technology costs enough to be able to offer a truly mass-market electric vehicle.
Currently, the price for Tesla Model 3 starts from $35,000 and Model S from $75,000.
Earlier this week, Musk confirmed that he is closely working with Goldman Sachs and private-equity firm Silver Lake to take the electric carmaker private -- a deal that would need nearly $70 billion in funding.