Tesla loses the race to General Motors for affordable electric cars in 2022

Tesla loses the race to General Motors for affordable electric cars in 2022 1




The founder and the head of Tesla, Elon Musk, declared publicly his desire to produce the cheapest electric car in its segment 16 years ago. Today, it turns out that the American auto giant General Motors is the closest to this goal.

General Motors was ahead of Tesla in bringing a cheap electric car to the market. While talking about the brand’s success in the second quarter of this year, Elon Musk did not hide the fact that prices for Tesla electric cars are regularly rising and now the brand’s products are quite expensive.

Musk associated the price increase with a shortage of automotive components, problems with logistics, and record inflation. In this case, Musk still expressed hope that the carmaker will be able to reduce the cost of its electric cars a little in the nearest future.

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As for GM, the company already wants to sell its battery-powered 2023 Bolt hatchback for just $26,600. That’s almost half the price they’re asking today for Tesla’s most affordable electric car.

“Musk’s company has set an initial price tag of $50,000. Meanwhile, the average check for the brand is $68,000. Pretty far from the list price for the cheapest Tesla, which was going to sell for $30,000 to $45,000.”