Tesla Chief Suggests Launching A Hatchback Model For Europe

A new hatchback model could be launched exclusively for the European market in the near future by the United States based electric car maker Tesla, suggested its Chief Executive Elon Musk.

The Model S executive saloon and the Model 3 sedan as well as two SUVs in the Model Y and Model X are currently sold by Tesla. However there are currently no models of the company in the market that are similar in size to say a Volkswagen Golf, a Ford Fiesta, or a Mini Cooper.

“Possibly in Europe it would make sense to do, I guess, a compact car, perhaps a hatchback or something like that,” Musk said Tuesday at a virtual conference on batteries hosted by the German government, according to media a reports.

“In the U.S., the cars tend to be bigger for personal taste reasons,” he said. “In Europe, (they) tend to be smaller,” added Musk.

This week has been a remarkable one for Musk as well as Tesla.

According to the Bloomberg Billionaires index, which tracks the 500 wealthiest people in the world, the net worth of Tesla CEO reached $127.9 billion on Monday, with the shares of the electric vehicle maker reaching a record high.

This sudden increase in Musk’s net worth made him the second-richest person of the world, beating Bill Gates, the co-founder of Microsoft, for about a couple of hours. According to estimates, the net worth of Gates is about $127.7 billion.

But according to the latest data from the Bloomberg index, Musk and gates are now tied in terms of their net worth at $128 billion.

The wealth of Musk is directly linked to the fortune of Tesla. The stock that he owns in the company is Musk’s biggest asset and according to Bloomberg, he owns about 20 per cent of the electric car maker.

And on the same day, the electric car maker also crossed another milestone as it surged past the $500 billion in market value mark with its investors rushing in to purchase shares of the company prior to it making a debut in the S&P 500 index. This also extended the already meteoric rise in the stock price of the company so far this year.

Speaking on the occasion, Musk recounted how he faced problems while trying to park his Tesla Model X, which has a length of five meters, in the German capital of Berlin. “I was driving a Model X around Berlin and we had quite a bit of trouble finding a parking space where we could fit,” he said.

Within the next two years, plans for selling a “Cybertruck” vehicle in multiple markets worldwide are also being made by Tesla. This new vehicle will have the “utility of a truck with sports car performance”, said the electric car maker.

Tesla became the first $100 billion publicly-listed U.S. carmaker in January.

(Adapted from CNBC.com)

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