As Tesla Inc. (TSLA) attempts to push into the mass market with its Model 3 sedan, long-promised at a price of $35,000, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer and founde🍰r Elon Musk says his electric vehicle (EV) company could make a $25,000 car in "about three years."

In an interview with popular YouTuber and Tesla fan Marques Brownlee, the high-profile tech mogul and 澳洲幸运5官方开奖结果体彩网:angel investor spoke to the low-cost version of the EV, while highlighting to auto industry's "insanely competitive" nature. (See also: Tesla Model 3 Tech Is 'Years Ahead of Peers’: UBS.)

Silicon Valley𒈔 Automaker Wants to Scale, Cut ✨Costs 

Tesla shares again plummeted on reports that Musk's tweets regarding taking Tesla private were not signed off by anyone. Bears including analysts at J.P. Morgan are now cautioning against the stock on doubts that funding was secured for a take-private transaction, or that there was any formal proposal for such a deal. In the 17-minute YouTube interview, recent news including a highly emotional and personal New York Times interview and a 澳洲幸运5官方开奖结果ꦚ体彩网:Securities and Exchan📖ge Commission (SEC) investigation were not discussed. Instead Musk focused on Model 3 production, technology and sc🌳ience. 

While Tesla has yet to sell its baseline $35,000 Model 3, relying on costlier models to sustain operations, Musk expressed the goal of ramping up production and lowering design and technology costs to reach a cost of $25,000. "If we work really hard, I think maybe we could do that in three years," said Musk. He compared auto manufacturing to the early years of the cellphone, which were bulky and lacked functionality, noted CNBC. 

Musk also indicated that he'd like to improve production to a point where Tesla could make two cars at the same time. Tesla's queue currently includes the crossover Model Y, a Tesla pickup truck, the Semi tractor trailer and the next-gen Roadster. 

The Palo Alto, California-based automaker relies heavily on its die-hard fan base and Musk fans, who tout the company's ability to continue to beat the odds despite being the 澳洲幸运5官方开奖结果体彩网:most-shorted stock in the U.S. In the YouTube interview, Musk noted that Tesla spends virtually nothing on advertising and endorsements and instead relies heavily on 澳洲幸运5官方开奖结果体彩网:word of mouth. 

"Where I put all the money into and all the attention into is trying to make the product as compelling as possible," said the CEO. (See also: Tesla: Musk Makes ‘Valuable Apology’ on Conf. Call.)