Elon Musk promises $25,000 electric car at Tesla's 'Battery Day'

The electric car manufacturer says updates to its battery design and manufacturing process will help lower production costs.

Tesla
  • The high cost of batteries is the main reason why electric vehicles cost more than gas-powered cars.
  • At the company's 'Battery Day' event on Tuesday, Tesla announced a new battery design that will give its cars more power and a longer range.
  • The success of Tesla's plan depends on its ability to scale up production.
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That Time Tesla (Briefly) Became the Most Valuable Car Company in the U.S.

Tesla's market cap surpassed that of GM and Ford on April 10, 2017.

Tesla showroom in New York [Photo: Spencer Platt/Getty]

Tesla’s market cap reached about $51 billion on April 10, briefly pushing the company ahead of GM and Ford as the most valuable car manufacturer in the U.S.

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Elon Musk Has a "Master Plan" – Here's How SolarCity Fits In

Elon Musk has a plan and part of that plan came together when it acquired SolarCity for $2.6 billion. 

Elon Musk has a plan and part of that plan came together when it acquired SolarCity for $2.6 billion in November 2016. This deal will ultimately allow Tesla to sell all-electric goods under one, unified brand.

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