Is Tesla Too Far Ahead? Korean Automakers Say Tesla's Planned $25K Car Will Up End The Market

Industry experts from South Korea have noted that Tesla’s upcoming $25,0000 vehicle, which is expected to debut in about three years, will likely force the hand of the company’s domestic rivals. With such a vehicle in the market, automakers like Hyundai and Kia would have to come up with comparably-priced electric cars that could compete with Tesla in terms of price and features. Such initiatives would require vast resources to pull off.

In a statement to The Korea Bizwire, the industry experts noted that local EV manufacturers would likely need about four or five years to come up with a vehicle that’s on par with Tesla’s $25,000 car. Elon Musk has noted that the $25,000 Tesla will still feature great performance and tech like the company’s existing S3XY vehicle lineup. That’s a pretty high bar for rivals to meet, considering Tesla’s battery and tech advantage.

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dlin - 9/29/2020 2:46:15 PM

+2 Boost

Upend, not up end

SanJoseDriver - 9/29/2020 10:43:44 PM

+2 Boost

They aren't too far ahead, there is plenty of room in the $25k market and many companies still have access to the $75,000 federal rebate.