Elon Musk Planning Tesla Mini-Car That Can Squeeze In An Adult

Bullish on the performance and increased production of "Model 3" cars, Tesla CEO Elon Musk is now planning to introduce a mini-car. Yes, you read it write. The owner of the American electric carmaker announced on twitter that the company is currently in planning stage to introduce a mini-car version of its products, which can also, fit an adult. The "Model S Radio Flyer" toy car, which is currently available for children in the age group of three to eight, comes with a 130 watt battery pack.

We’re working on a new Tesla mini-car that can squeeze in an adult

— Elon Musk (@elonmusk) August 5, 2018

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Musk, however, did not elaborate on when the Tesla mini-car will hit the roads. The electric car maker reported revenue of $4 billion in the second quarter of 2018, with $2.2 billion in cash in hand. Tesla is producing roughly 7,000 Model 3, Model S and Model X vehicles per week.

In July, Model 3 -- that comes with a base price tag of $35,000 -- not only had the top market share position in its segment in the US, but it also outsold all other mid-sized premium sedans combined -- accounting for 52 per cent of the segment overall.

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"We aim to increase production to 10,000 Model 3s per week as fast as we can. We believe that the majority of Tesla's production lines will be ready to produce at this rate by the end of 2018," Musk said during the company's second quarter results last week.

The company expects to produce 50,000-55,000 Model 3s in Q3.