From today's BBC:
Musk: Cheaper Tesla ready 'in about three years'
A$25,000 Tesla in three years?
--- I'm not holding my breath.
No indeed. Musk is a real visionary, no question, but his enthusiasm (or hype?) sometimes gets ahead of reality. But the guy is far from all-mouth-and-no-trousers, as both Tesla and Space X have proved beyond doubt. So maybe not 3 years but perhaps 6? The important thing is he is taking on the challenge of the battery technology.
Battery technology is probably the most crucial component of the energy transformation we need, due to the difficulty of storing energy in acceptable quantities at acceptable size, weight and cost. Hydrocarbons do that so well that it makes it very hard to displace them, from transport applications especially. Hydrogen from electrolysis can overcome that to some degree, though storing high pressure hydrogen has its problems (!) and it requires another whole new industry and distribution network. (I see Airbus has a concept for a hydrogen-powered aircraft, which is far from a silly idea. You can fuel planes with it without needing an extensive distribution network. But I'd like to know how they store it on board.)
So go for it Elon and, even if you don't make any money, the world will a better place for your effort.