Musk said the company has learned a great deal from the mistakes made with Model S and X production. For one, he said he overreached on the technology included in the first generation of its SUV the Model X.
“We are very confident about costs [of Model 3 production],” he said.
“When we make mistakes it’s because we’re stupid not because we’re trying to mislead anyone,” Musk continued. “We aspire to be less dumb over time.”
The CEO, who splits his time between Tesla, SpaceX, and now The Boring Company, also gave more information about the compact SUV the company expects to produce. Originally the car, tentatively called Model Y, was going to be built on an entirely new manufacturing platform. But Musk said there “will be significant carry over” from Model 3 production in order to bring the compact SUV to market faster.
—By Johana Bhuiyan, Recode.net.
CNBC’s parent NBCUniversal is an investor in Recode’s parent Vox, and the companies have a content-sharing arrangement.
