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Tesla Inc.’s (NASDAQ: TSLA) Affordable EV Could Force the Hand of Other Manufacturers

During the recent Tesla Battery Day, Tesla’s CEO announced that the EV maker had made incremental improvements in battery tech that dramatically reduced the cost of its battery cells, paving the road for an affordable $25,000 electric carTesla Inc. (NASDAQ: TSLA) unveiled plans to develop a tables battery that could improve an EV’s range and power while lowering its cost, allowing the firm to make and sell EVs at a far cheaper cost than it can now.

According to Forbes, Tesla’s upcoming $25,000 vehicle “could mean game over for gas and oil,” and industry experts agree wholeheartedly. Expected to debut in about three years, the vehicle will likely force the hand of other EV makers if they wish to stay in the market. However, for automakers like Hyundai and Kia to come up with comparably priced electric cars that could compete with Tesla…

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