What Elon Musk Thinks of BMW's i3

NEW YORK (TheStreet) -- Tesla Motors (TSLA) CEO Elon Musk is never one to mince words, especially when it comes to the competition. Given that he's been critical of some of the electric cars out on the road before, it's no secret that he thinks Tesla could build something better than BMW's i3.

At yesterday's shareholder meeting, Musk was asked about the company's upcoming third-generation car, which he has previously said would cost around $35,000 to make it appealing to a wider audience than the Model S, which has a base price of about $65,000. "It's important to have a compelling mass market car," Musk said of the Gen III car, which is not yet named.

In reality, the Model S, which has won numerous awards -- including being named Consumer Reports top car in 2014 -- costs upwards of $100,000, once a buyer chooses from a variety of add-ons for the car. It has been responsible for much of the fanfare Tesla has enjoyed over the past few years, but the company's future is on the third-generation car, which will have a range of about 200 miles for a single electric car. Other companies, including BMW, already have electric cars at lower price points, but Musk is convinced there's much more to be done. "I drove the i3, but the range isn't great," Musk said during the question-and-answer part of the shareholder meeting. "The issue is in order to create a compelling mass market car, we need a lot of battery production, and it needs to be at an affordable price that it doesn't hurt the affordability of the car."

If you liked this article you might like

This Tesla Model 3 Looks Like It's Falling Apart -- Here's Why That's Not Good

What Trump's War With Sports Has to Do With Investing

Rev's Forum: 2 Good Reasons to Go With the Flow

3 New Badass Indian Motorcycles That Will Probably Make Polaris Investors Happy

The 12 Most Ridiculous Kitchen Appliances You Can Buy From Amazon