Tesla fans are hoping that Elon Musk will make good on his long-standing promise of an affordable electric vehicle, when he reveals his plans later this week, Reuters reported on 27 February.
According to the news agency, “Musk said last year he shelved the plan for a $25,000 car, known as Model 2, and he hasn't mastered the new battery technology that he has stated would be crucial to the cheaper cars.
“Expanding into the mass market is critical to meeting Tesla's goal of increasing vehicle deliveries 15-fold – to 20 million – by 2030. Tesla cut prices in recent months to boost sales, which were pressured by a weak economy and growing competition.”
At the time of publication, Tesla’s shares were up about 60% year-to-date but were still at half their November 2021 peak.
The lower-priced car is expected to be the centrepiece of Musk's 'Master Plan Part Three', which he will offer at an 'Investor Day' on 1 March, along with plans for factory expansion and capital spending.
“Whatever he says about timelines, though, investors will be wary, since he has missed his most prominent deadlines while building the world's most valuable car company,” Reuters commented.
"The formula for decoding Musk is pretty simple. Take whatever time frame he has, and multiply it by two," said Gene Munster, Managing Partner at Deepwater Asset Management, which owns Tesla shares.
Munster expects the new car platform to be rolled out in 2025 at the earliest, which would still be years faster than the typical auto industry development of a new vehicle.
Tesla did not respond to Reuters' request for comment.
ZF Aftermarket has named Maic Dressen as Managing Director of ZF Services South Africa (Pty) Ltd and Sub-regional Head for Sub-Saharan Africa and the DomTom regions. He will lead the company’s South African operations and support its growth across the continent.
Volkswagen has marked 75 years of vehicle production and sales in South Africa with a gala event in Kariega attended by President Cyril Ramaphosa, while also revealing the new Volkswagen Tengo, the third model to be built at the local plant. The Tengo will be produced for the South African and wider markets.
BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
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You can't buy happiness but you can buy cars and that's kind of the same thing.
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BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
When Volvo introduced the XC40 Recharge Pure Electric to South Africa in late 2021, the timing raised eyebrows. The country was enduring a severe power crisis, with loadshedding recorded on 200 days that year.
Three months after launching its off-grid, solar-powered electric vehicle (EV) charging network on the N3 corridor, Zero Carbon Charge (CHARGE) has confirmed plans to double charging capacity at both Charge hubs.
