Tesla Motors Inc held an event on September 29 to launch its new car, the Model X pure EV SUV, but the firm left a lot of key questions without an answer. Most of those with money behind the firm are worried about how fast it will be able to build the new car, and how much it’s going to cost. Elon Musk and Tesla have finally supplied some answers.
The two big questions facing those that have already booked their Model X, and those that have bought shares in Tesla Motors, are “when will the car actually ship?”, and “how much will it cost when it arrives?” The firm has released some info that clears those questions up, though not fully.
When is the Model X coming?
We don’t have direct details about when the Model X will be ready to ship, and it’s likely that Tesla Motors has had some trouble putting that road map together itself, but the firm sent an email to those who have booked the car with details on when they can complete their order. In the email Tesla promised that it hopes to “invite all current reservation holders to configure their cars before the end of 2015.”
The firm also said that it plans to allow a new group of those who have booked the Model X to configure their order in the coming weeks. As far as we know all of those that booked a Signature Model X have already been given access to the online design studio. That means the first normal Model X bookings will be designed in the coming weeks.
There are about 28,000 bookings on paper for the Model X, but those that have decided to buy the car are still missing key info. There’s been no clear guide on how much it will actually cost when it arrives, though we have gotten a little bit more info since the initial launch.
Tesla Motors has a pricing problem
Over at Electrek.co Fred Lambert reported new info from a recent speech by Tesla Motors CEO Elon Musk. Mr. Musk told the Vanity Fair New Establishment Summit that there will be a version of the Model X that sells for around $75,000 before any tax incentives.
That’s a whole lot cheaper than the $132,000 base price on the Signature version of the Model X, but it’s not clear when buying a version of the car for $75,000 will be possible. The number, Lambert points out, lines up with a recent message from Musk that the Model X will cost about $5,000 more than the comparable Model S.
Given that data he estimates that Tesla Motors will sell the Model X for $75,000 base and $93,000 for the 90D version. Those numbers, much like the release date, have not been confirmed by Tesla or Musk, but we have reason to think that’s how it will turn out.
Tesla is clearly having a hard time with the Model X, and the firm’s ability to communicate with those that have bought the car, and those with stock in the firm, is hurting right now. Adam Jonas of Morgan Stanley dropped his price target on the firm as a result of Model X pricing, and Wall Street is listening. Shares had lost close to 3 percent of their value at time of writing on Thursday, and fell below $225 at one point in today’s trading.