Tesla (TSLA) Planning Lower Cost Vehicle and Small SUV

Tesla (Nasdaq: TSLA) CEO Elon Musk, speaking on CNBC, said he plans to product a new vehicle that would be half the price of the Model S in 3 to 4 years. The next model is expected to be a smaller, similar to the Audi A4 or BMW 3-Series, and may price at $35,000. Tesla also plans to make a small SUV.

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