Lifestyle
EV prices are coming within reach of Millennials, but are they buying?
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The younger adult generations are significantly on board with environmental causes that have car-centric responses, namely climate change, but ironically enough they are also the generations with the least financial capability of purchasing EVs.
A study recently published by Cox Automotive showed that only 10% of EV buyers are between the ages of 25 and 34, and the reason purported is price. The same study showed that some 70% of EV buyers have incomes of $100k and above, which might be a more common take home pay in Silicon Valley for young people, but not so much everywhere else.
Despite these observations, however, there seems to be a light at the end of the tunnel with the cost gap between ICE and electric cars finally starting to narrow. EV battery prices have reduced about 70% since 2010, and the overall price of vehicles like the Nissan LEAF have decreased by about 2.5% since 2012 while similar ICE vehicles such as the Nissan Maxima have increased by 7.5%. Another interesting point about this consumer demographic is the awareness about EV benefits. Cox Automotive found that 65% of young consumers know charging costs less than gasoline, and I’d toss in my own observation that Tesla has an enthusiastic fan base comprising a large number of young people as well.
But the old bogeyman is still as big a concern for this crowd as any other: Range anxiety. Sure, Tesla is doing a great job getting rid of this particular worry monster, but then we run into the issue of purchase price. And that’s not the only thing.
Another issue exists that deters young buyers: Urban living. If you’re a resident of, say, New York City, car buying is a ridiculous expense that makes cost of living even more impossible. What’s more, access to public transportation (itself another response to environmental concerns) is pretty decent. Throw in the cost of auto insurance, and yikes! When I worked in NYC as an early 20-something, my insurance alone was over twice what my car payment is today, and I only used the darn car to get myself to the train station in the morning. Yes, Tesla is also working on this, but Tesla’s cars are also more expensive than similar ICE vehicles, bringing us back to square one.
Then there’s another complication for most young people who do have the $100k+ income to buy a “standard” EV a la Tesla: Student debt. Even with today’s income-based repayment plans to ease the burdens, young single people with high incomes usually don’t get any relief at all, which then eats away at their expendable income, which means less money for a car payment. Well, you may say, they make a lot of money and therefore shouldn’t complain. But most of them make that much money while living in a place that’s very expensive to exist in.
You may make a “good” income in the city number wise, but the cost of living often leaves you with less expendable income than if you lived elsewhere making much less. While working at an NYC law firm, for example, I noticed that the common practice for young attorneys was to live with several roommates in small apartments for a year or two working at a big firm solely to pay off their student loans. Many of them wanted to be doing something else they were more passionate about – public law, criminal law, etc. Those jobs just didn’t pay enough for them to live while owing on their loans. Then after the loans were paid, they could finally afford their own place, but what would the point be of purchasing a pricey EV when walking (or a subway hop) was the most practical commute option? Parking garages can be another car payment in themselves in those areas, too. At that point, gasoline is the price of lunch and a beer in the city – not really the deciding factor for these buyers.
Altogether, EV ownership doesn’t make sense for the majority of young people it seems, at least on the surface. If they can afford one to begin with, it’s not really a practical use for their money. Yes, many cities in California have more ideal brews for these customers: high income professions, less access to reliable public transportation, slightly better parking (same terrible traffic though), and plenty of EV charging stations. That’s not really a big picture motivation for car companies to build and sell EVs, though.
So, what’s an EV manufacturer to do? Prices may (or will, rather) eventually come within reach for lower income buyers (a problem that’s widespread over many demographics), but the other issues still exist regarding practicality and the expenses surrounding car ownership in places where large populations of young people tend to live and work. There’s also the question of whether young buyers as a demographic will matter overall if everyone can afford EVs, right? At that point, the uphill climb is less a “Millennial” customer and more an overall “big city” customer. After those customers move into the suburbs and have a better reason to own an EV, they’re easier to attract… They also won’t really fit that young person demographic, anymore.
I think Tesla has a good strategy with the upcoming Tesla Network for reaching absolutely everyone. When a car is no longer an expense, but transportation solution that’s also an income generator, young city dwellers might have a better reason to buy. If their car can be summoned when needed, parked somewhere cheap, making money when not being used by them, it’s a big win-win. And hey, every bit counts when a cocktail at happy hour averages around $20.
Lifestyle
Tesla Semi futuristic sci-fi acceleration sound will never get old
Videos that capture the Semi moving at speed are most notable due to their sheer cool factor.
The Tesla Semi is not yet in mass production, but the company has accumulated over 7.9 million miles across its test fleet. With Tesla using the Semi for its operations, it is no surprise that sightings of the Class 8 all-electric truck have been abounding.
These sightings from Tesla enthusiasts vary, but those that capture the the Class 8 all-electric truck moving at speed are most notable, possibly due to their sheer cool factor.
Tesla Semi’s Roar
There is something that just stands out with the Semi, particularly on the road. While the Semi does not have the Cybertruck’s brutalist, angular design, it is still very striking because it’s such a massive machine that moves far too quietly for its size. This is, of course, one of the reasons why the vehicle also becomes extra noteworthy when it fires up its electric motors and accelerates.
Take this video from Tesla Owners Silicon Valley, for example, which shows the all-electric hauler accelerating while pulling what appears to be a full load. In these situations, the Tesla Semi actually becomes audible, but unlike traditional diesel-powered truck, the Class 8 all-electric truck “roars” with its own, unique futuristic, sci-fi sound. In such situations, one could feel the Semi’s raw power, which comes from its three independent motors on its rear axles.
Tesla Semi Ramp
Tesla has been promoting the Semi quite a bit as of late, and recent reports have suggested that the company is putting in a lot of effort to prepare the vehicle for its production in Nevada. Tesla’s Careers website has gone live with over 80 Semi-related job openings recently as well, and a recent report has suggested that Tesla has ramped the Semi’s factory workers in Nevada to over 1,000 employees.
The company has even shared an update video of the Semi factory’s progress near Giga Nevada, as well as the design of the vehicle’s new logo. The Semi’s updated logo is quite interesting as it features elements from the Tesla Model 3’s first logo, which was unveiled way back in 2016.
Lifestyle
Elon Musk jokes he will join Mr Beast’s “100 Men vs 1 Gorilla” challenge
It’s a good sign, if any, that the overworked Musk is becoming a bit more lighthearted again.
Following the first quarter Tesla earnings call, CEO Elon Musk seems to have become a bit more relaxed—relaxed enough to joke about fighting a gorilla with 99 other people, at least.
It’s a good sign, if any, that the overworked Musk is becoming a bit more lighthearted again and not too busy picking fights with politicians on social media.
The Viral 100 Men vs 1 Gorilla Challenge
Over the weekend, a post on social media platform X went viral. The post itself was quite simple, with user @DreamChasnMike stating that he thinks 100 men could beat one gorilla. “Everybody just gotta be dedicated to the sh*t,” the X user joked. The post exploded on the platform, garnering 284 million impressions as of writing.
The silly question also triggered a massive debate about whether 100 men would really stand a chance against a literal gorilla. Some users even lamented that the premise was a sign of male hubris. Nevertheless, the question proved to be a fun topic on X, with some more dedicated users even posting simulated videos of what the “100 Men vs 1 Gorilla Challenge” could look like.
Mr. Beast and Elon Musk Join In
The premise is quite similar to other viral videos from noted YouTube creator Mr. Beast, so it was no surprise that edited images of Mr. Beast YouTube thumbnails with “100 Men vs a Gorilla” also started spreading on the social media platform. Mr. Beast, who tends to be game to such silly ideas, actually reposted the edited image, joking “Need 100 men to test this, any volunteers?”
In true Elon Musk fashion, the Tesla and SpaceX CEO noted that he would join the challenge. “Sure, what’s the worst that could happen” Musk wrote in his post on X. Musk’s reply triggered quite a few laughs on X, with some stating that the world probably still needs the CEO.
While silly, Musk’s comment and his recent, more frequent posts about his companies’ products like Starlink and Grok have been received well by his supporters. Over the past months, after all, Musk has been very political and quite confrontational on social media. With Musk soon taking a step back from the Department of Government Efficiency’s (DOGE) daily operations, however, it seems like X will soon get a more tempered and lighthearted Elon Musk once more.
Lifestyle
Possible first glimpse of Tesla “Model 2” affordable car in Fremont Factory
The models that Tesla will release in the coming months will resemble the company’s current lineup.
During the Q1 earnings call, Tesla VP of Vehicle Engineering Lars Moravy set expectations on the design of the affordable models that the company is expected to launch this 2025. As per the Tesla executive, the models that Tesla will release in the coming months will resemble the company’s current lineup.
Drone footage from the Fremont Factory earlier this month might have provided the EV community its first potential glimpse at Tesla’s affordable cars–fondly dubbed by EV fans and analysts as the “Model 2” or even “Model Q”–or at least their components and overall shape.
The Sighting
Tesla watcher and drone operator Met God in Wilderness, who has been posting aerial videos of the Fremont Factory for years now, recently shared some footage from his drone flyovers this month. While the Fremont Factory was abuzz with activity as usual, a couple of rather strange vehicles were quickly spotted by EV watchers on social media.
During the drone operator’s flyover on the 17th, for example, an unfinished vehicle could be seen parked next to what appeared to be fully-built Model S and Model Y units. What was especially interesting was the vehicle’s roof, which seemed to be slightly narrower than the Model Ys around it. Based on the video, at least, the vehicle seemed to be shaped like a crossover as well.
Footage from the 24th of April also proved quite interesting, with the drone operator capturing footage of another cryptic vehicle. Unlike the mysterious, unfinished, crossover-esque car spotted on the 17th, this particular unit seemed to have a more sloping rear, at least based on the shape of its covering.
What Lars Moravy Said
In Tesla’s Q1 2025 Update Letter, Tesla noted that “plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.” Tesla also noted that the new vehicles will utilize aspects of its next generation and its current platforms. They will also be produced on the same manufacturing lines as its present vehicle lineup, likely the Model Y and Model 3.
During the earnings call itself, Moravy specifically stated that the new models that would come out in the next months would resemble the company’s current vehicles. They will, however, be affordable. “Models that come out in next months will be built on our lines and will resemble, in form and shape, the cars we currently make. And the key is that they’ll be affordable, and you’ll be able to buy one,” Moravy stated.
Watch the drone operator’s footage from April 17 below.
The drone operator’s footage from April 24 can be viewed below.
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