Tesla Motors Inc (NASDAQ:TSLA) has its heart set on breaking into the affordable EV market. The electric automaker’s cars have long been the playthings of the affluent since its birth just 13 years ago. Tesla knows that its future growth depends on delivering a product that is within the reach of buyers without the deep pockets of Model S and Model X. Aiming to make its EVs much more affordable for everyone, Tesla Motors’ means to be more inclusive will come in the form of the Model 3.
Tesla Model 3
The Tesla Model 3 will be unveiled to the public on March 31. The company assures us that the vehicle will be its most affordable car. Though analysts and industry experts have voiced their doubts, CEO Elon Musk said the Model 3 will come with a price tag of around $35,000. That’s less than half the price of a new Model S, which costs upwards of $75,000 at standard. The anticipated mass-market EV will be capable of trekking over 200 miles on a single charge too.
Here’s an article that discusses how to get a Model 3 and what to expect when you make your deposit.
The Model 3’s $35,000 cost will place it in direct competition with cars like the Ampera-e family hatchback from Vauxhall-Opel. Expected to be on sale in the E.U., the Ampera-e will sell for around $35,000 as well. Like the Model 3, it too is expected to be released for sale in 2017 at the earliest.
In February, Musk told the public that orders for the Model 3 will open on the same day as it’s big unveiling. Orders will only be available at Tesla showrooms on the March 31st. However, those keen on making their orders online will be able to do so on the 1st of April — the following day. The CEO hinted at a great reveal similar to that of the EV giant’s latest Model X SUV.
But separating order dates like this could see Tesla’s fancy Showrooms being bombarded with customers. This is especially true since only a limited number of buyers will get the $7,500 tax credit. It really could not be available the next day. The credit would mean getting the Model 3 for $27,500 and only 200,000 Model 3 buyers can qualify. So, the longer you wait, the more expensive the Model 3 will get. Now that’s incentive.
Although no detailed specs have been shared about the mass-market Tesla — not even an official photo — the exciting performance seen in its earlier EVs is enough to get Tesla fans excited. Car experts believe that its performance will rival that of a BMW M3 and M4. All over the internet are videos and media posts bragging about the hidden torque of Tesla’s luxurious EVs. Last year’s introduction of Ludicrous Mode lets the company’s Model S do 0-to-60 in an unbelievable 2.8 seconds. That’s supercar speed.
The model 3 will likely get a smaller battery pack. It will likely be around 75 kWh in comparison to the Model S’s 90 kWh. Perhaps the exact same performance won’t be instilled in the Model 3. Although, Tesla Motors is known to give people a lot more than just fancy-looking electric vehicles, but adds a range of fun little luxurious play aspects too.
“We want people to fall in love with their and look forward to driving it,” Musk relayed.
Tesla Motors Inc (NASDAQ:TSLA) has made sure to keep everything about the Model 3 tightly sealed within the company. It does plan to share more details about the upcoming car closer to to the big reveal date. “The pictures of the Model 3 will be end of March,” Musk announced. “I am being a little coy here, we are not going to share everything about the Model 3 until a lot closer to production time.”
This also suggests that the unveiled version could be a bit different from the one that will come out of production. This would be unsurprising considering the car only actually goes into production in 2017. Further, a similar kind of mild appearance change happened to the Model S. The concept version was slightly more reserved than the actually production sedan.
The Model 3’s actual appearance is essentially contested. Many believe the car will sport a look closer to that of a more compact Model S sedan. However, industry experts claim that the Model 3 will need to be a lot more inclusive than that. Mass-market means a lot more than just affordable, and the Model 3 will not be directly aimed a Audi A4-like buyers. Rather, Tesla will likely consider entire households, so it is argued by some that the new EV could be more of a family hatchback. Bearing this, the Model 3 could likely be a modest combination of the of the Model S and Model X. Don’t expect the fancy falcon wing doors though. Those reportedly cost an arm and a leg to make.
Rumors say the Model 3 is about 20 percent smaller than the Model S. This really doesn’t help much, but consider the Audi A4 in comparison to its more luxurious siblings.
The Tesla Model 3
Rumor has it that Model 3 drivers will also have free use of the nationwide network of Superchargers. Tesla Motors Inc (NASDAQ:TSLA) hopes to sell about 35,000 of the cars this year. The car will most likely rake in a lot more sales than that over the next few years. Production should be simpler and quicker due to Tesla’s forth coming Gigafactory.
To end speculation of a name change, Musk did confirm that the car will indeed be called the Model 3. The company said it was considering the name “Model E” before Ford snatched it up a ran away with it.
“The new model is going to called Model 3,” the CEO said. “We’ll have three bars to represent it and it’ll be S III X.”
Tesla says it will have the car out by late 2017. Buyers should consider the company’s delay trends though. However, no delay of any sort could possibly diminish the excitement of owning a Tesla.