You’re reading their marketing material. You have to think of this like all of those PR releases you’ve seen over the years about new battery technology that is 4X smaller or new hard drive tech that is 10X more efficient. The real world improvements aren’t going to be as big as their one lab test.
A Model 3 motor is already well under 150lbs, unless you start including ancillaries like the inverter and power transmission parts.
They’re not dropping “a buck fifty” from typical EV motors.