One of the reasons why electric cars aren’t as widely adopted is cost. Generally speaking they’re a lot more expensive compared to gas-powered cars. However Tesla has been trying to address this problem with the Model 3 which is priced at $35,000, making it one of the more affordable models around.

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However $35,000 is still a price that many can’t afford, but the good news is that the company is working towards a cheaper model in the future. Speaking to YouTuber Marques Brownlee in a video interview (via Engadget), Tesla’s CEO Elon Musk was asked about whether the company had plans for an even lower-priced Tesla.

According to Musk, he thinks that in the next three years, they might be able to achieve a Tesla vehicle that could be priced as low as $25,000. Now it should be pointed out that Musk does not promise that we will see a $25,000 Tesla in the next three years, or if it is a guarantee that such a model is in the works.

The takeaway is more how Tesla could potentially try to reach that price point in the next few years, presumably as certain technologies become cheaper, easier to produce, and so on. Musk likened the potential of $25,000 Teslas to our mobile phones back in the day, where they were huge and chunky devices that were expensive for what you were getting, to the models that we have today.

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