Elon Musk has his hands full at Tesla, but that isn’t stopping the CEO from thinking about the automaker’s next big thing. And that could be a $25,000 electric car.

In a YouTube interview with Marques Brownlee, the internet personality asked if there’s room for a less expensive electric car to sit under the Model 3. Musk replied, “Yeah, absolutely. That’s something we can do, if we work really hard, I think maybe we can do that in three years.”

Recall, the Tesla Model 3 debuted as the company’s affordable electric car for the masses with a starting price of $35,000. However, Tesla has not begun producing the $35,000 Model 3 yet, called the Model 3 Short Range. Instead, all production cars have so far been for the Model 3 Long Range with a larger battery, longer range, and higher transaction prices.

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Electric cars costing under $30,000 will likely one day be a reality as technology advances and prices for essential hardware fall. But, Musk also said production scale is also important to achieve¬†economies of scale. He also admitted the auto industry is a tough segment to be in and called it “super competitive.”

Aside from pushing to improve Model 3 production, Musk has also announced plans for a Model Y electric crossover vehicle, a Tesla Semi, and next-generation Tesla Roadster. He’s also teased plans for a Tesla pickup truck on numerous occasions, too. Add the potential $25,000 electric car to the growing list of future product.

[Source: YouTube]