- Model 3 is 20 per cent smaller than Tesla's Model S and has a continuous pane of glass in the roof for ' openness'
- It fits five adults 'comfortably' and has more cargo room than similar sized, petrol-powered vehicles
- More than 115,000 Model 3s were pre-ordered in the first 24 hours And they will begin shipping at the end of 2017
- The car is half the baseline price of the Model S and goes 0 to 60mph in less than six seconds
Tesla has finally unveiled the highly anticipated Model 3, hours after fans around the globe already began lining up at its stores to order the luxury brand's new affordable vehicle.
The Model 3 starts at $35,000 in the US - half the baseline price of the 2015 Model S.
Boss Elon Musk dramatically revealed a red, silver and matte black model of the electric car after a lengthy talk that covered the company's dedication to the environment and journey to affordability.
He also revealed the Model 3 will be able to go zero to 60mph in less than six seconds, saying: 'At Tesla, we don't make slow cars'
The Model 3 starts at $35,000 in the US - half the baseline price of the 2015 Model S.
Boss Elon Musk dramatically revealed a red, silver and matte black model of the electric car after a lengthy talk that covered the company's dedication to the environment and journey to affordability.
He also revealed the Model 3 will be able to go zero to 60mph in less than six seconds, saying: 'At Tesla, we don't make slow cars'
Like the Model S that came before it, Model 3 will feature front and rear trunks and boasts more cargo capacity than any gasoline car of the same external dimensions.
And Musk promises that a 7-foot surfboard will be able to fit inside.
'We really believe with Tesla that safety has to come first, it's paramount. It will be 5-star in every category'.
Musk said deliveries for the car will begin at the end of next year.
'I do feel fairly confident it will be next year,' Musk joked to the amped up crowd, before repeating the car's widely-publicised $35,000 price tag.
When will it go on sale?
Tesla has said it expects to start Model 3 production at its Fremont, California, factory at the end of 2017.
But the company has a history of delays. The Model X, which went on sale last fall, was initially due to go on sale in early 2014.
Musk said last month that the Model 3, unlike the Model X, is designed for 'ease of manufacturing.'
Still, some analysts are doubtful. Morgan Stanley auto analyst Adam Jonas thinks Tesla won't start building the Model 3 until the end of 2018.
Who are its competitors?
General Motors is set to start selling the Chevrolet Bolt electric car at the end of this year, a full year before the Model 3.
The Bolt will have a similar price tag and a 200-mile range. Hyundai's Ioniq, which has a 110-mile electric range and could match Tesla on price, goes on sale this fall.
Audi will follow with an electric SUV in 2018. Musk said last month he's not worried.
He thinks the Model 3 will compete most directly with small luxury cars like the Audi A4 and the BMW 3 Series.
How did Tesla make the Model 3 less expensive?
Cheaper batteries. Tesla previously assembled its battery packs with battery cells made in Japan by Panasonic Corp.
But Tesla and Panasonic are building a massive, $5 billion factory in Nevada which will supply batteries for the Model 3.
Tesla says the scale of the factory will lower the cost of its battery packs by 30 per cent.
At the end of his speech Musk revealed that the Model 3, the fourth by the brand, was already a success - with the total number of orders surpassing 115,000 in 24 hours.
'You did it!' members of the audience screamed in support of Musk.
Online ordering began an hour earlier then planned on Thursday amid signs of heavy demand. Musk said the company wanted to ensure there was 'no server overload'.
He also posted a CNBC poll that showed 55 per cent of people would put a $1,000 deposit on Tesla Model 3, and go through with buying it.
'Looks like we may need to increase production plans for the Model 3,' he wrote.
The Model 3 - the company's first mass market car - is a pitch to middle class drivers and a key component in Musk's vision to mainstream the electric car.
'Why are we doing this? Why does it matter?' Musk rhetorically asked the audience as he began his speech at the unveiling.
It's because it's very important to accelerate the transition to sustainable transport,' he said. 'This is really important for the future of the world.'
Musk went on to note that the world has record carbon dioxide levels that continue to climb.
'The last time there was this level of carbon concentration was 11 million years ago, that’s when primates started walking upright,' he said to audience laughter.
'We do not want to return to that situation.'
Musk explained that the rising levels was causing temperatures to spike as well, citing that it has already increased by two degrees and 'is going to keep going for some time in the future'.
'And beyond global warming,' he continued. 'There’s just the fact that combustion cars emit toxic gases. What we came up with the Tesla is the secret master plan.'
Musk called that plan a 'four-part trilogy' that began with the 'tiny' company trying to figure out how it could make a difference 'with very few resources'.
The Tesla Roadster - with a base price at $100,000 - was born in 2008. The company could only produce 500 units a year, but their message was clear.
'What really made a difference is it showed the world you could make a compelling electric car,' Musk said.
'What was unique was that it was the first really great electric car. Before, people thought the electric car would be slow and ugly.'
Musk went on to note that the world has record carbon dioxide levels that continue to climb.
'The last time there was this level of carbon concentration was 11 million years ago, that’s when primates started walking upright,' he said to audience laughter.
'We do not want to return to that situation.'
Musk explained that the rising levels was causing temperatures to spike as well, citing that it has already increased by two degrees and 'is going to keep going for some time in the future'.
'And beyond global warming,' he continued. 'There’s just the fact that combustion cars emit toxic gases. What we came up with the Tesla is the secret master plan.'
Musk called that plan a 'four-part trilogy' that began with the 'tiny' company trying to figure out how it could make a difference 'with very few resources'.
The Tesla Roadster - with a base price at $100,000 - was born in 2008. The company could only produce 500 units a year, but their message was clear.
'What really made a difference is it showed the world you could make a compelling electric car,' Musk said.
'What was unique was that it was the first really great electric car. Before, people thought the electric car would be slow and ugly.'
Tesla is now preparing more charging stations to accompany more of its cars on the road.
Musk revealed that by next year the 3,600 superchargers, the free connectors that charge Tesla car in minutes, that currently exist will double in number.
And the number of Tesla destination charging stations, found at partner restaurants, hotels, shopping centers and resorts, will quadruple.
'You will be able to go virtually anywhere,' Musk said. 'If there's electricity - you can charge.'
The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one for a deposit of $1,000.
Long lines, reminiscent of the crowds at Apple stores for early models of the iPhone, were reported from Hong Kong to Austin, Texas, to Washington.
The BBC reports that the innovative car firm posted a net loss last year after heft spending spending on research and development – Tesla reported a loss of $889m (£619m) in 2015 after its $718m (£500m) R&D spend.
i love to own one of this car.........
ReplyDelete