5 March

The Tesla Model 3 is already significantly cheaper than owning a Toyota Corolla, over 5 years of ownership. (It has next to zero maintenance costs, and electricity is much, much cheaper than petrol or diesel.) The Corolla is one of the lowest cost of ownership cars in the world. But it's going to get even worse for traditional manufacturers, because the massive drop in battery prices Tesla is creating with its new gigfactory will feed into its new 3rd generation vehicle platform. See the 'next gen' bar below. Economics and engineering. Always follow the money.