When Tesla launched the Roadster in 2008, buyers of the first $109,000 car included George Clooney, former eBay president Jeff Skoll and billionaire entrepreneur Elon Musk himself, then chair of the company.

Now its CEO, Musk is following a long-held plan to put Teslas in the driveways of the middle classes, pushing down the price of its most affordable Model 3 to $36,200 (R547,000) in the US.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.