Tesla Motors (NASDAQ:TSLA) has unveiled its EV for the mass market; the Tesla Model 3. The Model 3 is compact EV sedan that costs a mere $35,000 before tax incentives. It’s a car that can include just about anything you can imagine – to the point where it becomes almost unbelievable. Some of the great features that Elon Musk hinted would be included with the car are autopilot, 200+ miles on a single charge, access to supercharger network, and a drag coefficient of 0.21.
The hinted features of the Model 3 sound just like some features found in the Model S. You won’t be too far off to call the Model 3 a smaller version of the Model S with perhaps a few less bells and whistles. Many people find it difficult to believe that Tesla will be able to pull of its promise of selling the Model 3 at $35,000. As if all of this isn’t enough, Elon Musk just told the world that Ludicrous Mode will be available for the Model 3.
Tesla Model 3 sounds too good to be true
During a Twitter exchange last Friday, someone asked Elon Musk if the Model 3 would have Ludicrous mode because Ludicrous mode is the best thing ever – Musk replied in the affirmative. The known features in the car just makes it sound too good to be true, many more features are yet to be known and Elon Musk has said that you’ll still be buying a great car at $35,000 even if you don’t add any options.
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Tesla Motors (NASDAQ:TSLA) has made a habit of building fast cars, party to show that electric vehicles can take on cars running on fossil fuels on performance, and partly to satisfy the showman side of Elon Musk. The Roadster was a performance EV with the abilities to take on Porsche and Ferrari on the track.
Musk brought the fast element to the Model S and Model X with a ludicrous mode upgrade that can allow the cars go from 0 to 60 miles per hour in 2.8 seconds. Ludicrous Mode doesn’t come standard in Tesla’s car but you could get the upgrade for $2,500. It remains to be seen if the Ludicrous Mode can push Model 3 to reach 0 to 60 miles in 2.8 seconds because we don’t know the size of the battery pack of the Model 3 yet.
General Motors blocks Tesla from making direct sales in Connecticut
General Motors have been Tesla Motors’ (NASDAQ:TSLA) archenemy in recent times because GM is always doing everything within its power to frustrate Tesla’s direct sales model. Tesla doesn’t sell its cars through the traditional dealership models, buyers can buy its cars online or in one of the Tesla stores. For the second straight time, Tesla though Senate Majority Leader Bob Duff, D-Norwalk tried to pass a bill that would allow the firm sell its cars directly to buyers in Connecticut. However, GM through an impressive lobbying campaign has effectively killed the bill.
Tesla through its VP Business Development says GM is “using state legislators and a legislative body to prosecute a business strategy whereby they are trying to shut us down at the same time they are bringing out a competitive product”. However, GM denies any wrongdoing, Chris Grimaldi, regional director at GM says, “GM believes that all industry participants should operate under the same rules and requirements on fundamental issues that govern how we sell, service and market our products.”
Tesla can’t sell its cars directly to buyers in Connecticut, Texas, Michigan, West Virginia, Utah, and Arizona. Tesla has been engaged in the same battle on different fronts as traditional automakers and auto dealerships band together to stop the firm’s direct sales. The firm has said that it doesn’t make sense to sell its cars through dealers because its cars are mostly made to order. However, Tesla might eventually need a sort of dealership Model when it wants to start delivering the mass market Model 3.