TESLA MODEL 3
The Tesla Model 3 is one of the most anticipated vehicles in recent memory, with nearly 400,000 pre-orders and counting for the release late 2017 of this affordable EV sedan. The unprecedented demand for the vehicle increases pressure on Tesla to complete its Gigafactory in Nevada in time to produce enough batteries and sort out issues at its Fremont, California vehicle assembly line. The format for the battery used in the Model 3 is 21/70, which is different than the 18/650 used in the Models S and X.
Unlike or the luxury models where the supercharger network is free, the Tesla Model 3 owner will pay for using the service. It is rumored that the model would be available in a performance package with Ludicrous Mode. The $35,000 price tag is before applying the federal tax incentives; the challenge though is the federal tax incentive is being phased out from mid-2018.
TESLA MODEL 3 SPECS
Tesla Model 3 Standard Edition
Tesla Model 3 Fully Loaded
TESLA MODEL 3 EV SALES
Go to our detailed breakdown of Global EV Sales to see how the Tesla Model 3 electric car fares to its competitors in the fast-growing EV market.
THE TESLA MODEL 3 IN THE NEWS
2017 Week 27 - The first Model 3 produced
Tesla‘s Elon Musk announced last Sunday that production of the Tesla Model 3 would commence on Friday the 7th of July, two weeks ahead of schedule. Late Saturday evening Elon posted a tweet showing two pictures of the historic vehicle with serial number one that came off the production line. According to Elon Musk, the rule at Tesla is that the first person to pay the full price will get the first Tesla Model 3 SN1. He responded to a tweet that he has the first Roadster and Model X but not the first Model S. The average sales price for a Tesla Model 3 is estimated to be around $50,000 before incentives.
2017 Week 11 - Tesla raises cash for Model 3 production
Tesla retires its Model S P60 while the company raises $1.4billion to fund the manufacturing of the Model 3. Tesla announced this week that it would retire the 60kWh battery and upgrade all existing orders to the 75kWh model. Filings with the SEC showed the capital raising for the Tesla Model 3 was done through a stock sale for $350 million at a price of $262 per share. The balance of $850 million was raised through the issue of convertible notes.
2017 Week 9 - Honda Clarity will be no match for the Tesla Model 3
Honda is setting itself up for failure with this week’s announcement that the much anticipated mid-sized 2018 Honda Clarity EV will only have an 80-mile range. Despite being a mid-size sedan, with the obvious space benefit it brings, the car will not even compete with smaller compact sedans and hatchbacks, such as the 2017 BMW i3 (114 miles), Nissan Leaf (107 miles) and the VW e-Golf (125 miles). The Honda Clarity EV’s direct competitors in the $30,000 to $35,000 price range, the Hyundai Ionic (124miles) and Tesla Model 3 (200 miles), will put it to shame.
2016 Week 42 - CNBC news report on Model 3 sends Tesla shares tumbling
The Tesla Model 3 made the news this week, first through a badly reported CNBC newsflash sending Tesla’s stock down over 2% in a matter of seconds. CNBC misreported an announcement on Tesla’s website, which indicated that if you decide to place an order for Model 3 now that you would only receive a vehicle late 2018, as the company fulfills its pre-orders starting late 2017. The CNBC report stated that Tesla moved the Model 3 launch date to late 2018. In other news, Elon Musk shined more light on the Model 3 during a special briefing on the 19th. Mr. Musk unveiled the companies new Autopilot 2.0 for the Model 3, Model S and Model X. The new suite provides Level 5 Autonomy which includes 360 degrees coverage.
OTHER ELECTRIC MODELS FROM TESLA
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