Tesla Motors Inc (TSLA) could be making progress on reducing the price of its vehicles even faster than management previously thought. The goal has been to cut the price of Tesla’s batteries low enough to be able to price the Gen III car at a starting price of around $35,000. PCMag reported this week that the base price of the Model X will be $55,000, a significant cut from the base price of the Model S, which is $62,400.
However, the website does not say where it got that price. That base price has garnered a lot of headlines on other sites, although it looks like that price was reported months ago by various sources. Tesla management said in February that the crossover vehicle would start out at a price similar to that of the Model S but did not give an exact number. Also CNN Money is still reporting that the vehicle’s price is unknown right now.
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