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Tesla Motors (TSLA) Model 3, Musk’s Terrestrial Spaceship

Tesla Motors Inc (NASDAQ:TSLA) Model 3

Tesla Motors Inc revealed the prototype of its most affordable electric car yet, the Model 3, in March. The Model 3 is an all-electric four-door compact luxury sedan, which according to CEO Elon Musk, will feel like a “spaceship” on the inside. That’s no surprise given Musk’s love for the extra-terrestrial. Musk is also the CEO of SpaceX, a space transport services company.  Tesla launched the Model 3 aiming for the mass market. This is an inexpensive car, with a starting price of just $35,000 before any government incentives.

The Model 3 is the first vehicle built on Tesla’s third-generation platform. The company expects the car to deliver an all-electric range of at least 215 miles per charge. Here’s what we know about the Model 3, whose production is expected to start sometime in mid-2017.

Tesla Motors Inc (NASDAQ:TSLA) Model 3
Source: Tesla Motors Inc

Design

The Model 3 has a sleek and beautiful design. The company said on its website that the “Model 3 combines real world range, performance, safety and spaciousness into a premium sedan that only Tesla can build.” The Model 3, the company’s most affordable car yet, achieves 215 miles of range per charge. The car is designed to attain the highest safety ratings in every category, according to the company.

The Model 3 has an almost entirely glass roof and no grille openings. The company hasn’t release much details about the Model 3’s interior. However, the leaked photos show a clean and minimalist style without controls, buttons, and knobs looks a little boring. A 15-inch touchscreen sits in the middle of the dashboard. It is safe to assume that most of the car’s infotaiment system would be controlled through the touchscreen. The Model 3 doesn’t have a speedometer, and the drivers will find the speed on the top left of the touchscreen.

Tesla CEO Elon Musk said in a Twitter post that the Model 3 will feel like a “spaceship” on the inside, according to Jalopnik.

Tesla Autopilot Hardware

The cheapest electric car will come with Autopilot hardware as standard but enabling the feature will require an additional charge. It will come standard with some pretty cool safety features though. Reports suggest that the car will come with autonomous emergency braking (AEB), lane keeping and automatic preventative steering.

According to a report by Gas2.org, a leakster shared “exclusive information about hardware updates that will accompany the much anticipated introduction of Tesla Autopilot 8.0”. The leakster says that Tesla Motors Inc is adding “a new triple camera mounted in the rearview mirror housing. It will also include a noise generator to help warn pedestrians that a mostly silent Tesla is approaching.”

Tesla has increased the price of its Autopilot system by 20%, without adding any new sensors or features. The company released Autopilot in October last year as part of a $2,500 package. Now, it will cost $3,000 at the time of purchase.

Price, Range and Release

The Model 3 will deliver at least 215 miles on a single charge. A report from Auto Express suggests that the car will do 0-62mph in less than six seconds.

Tesla Motors Inc is expected to start the production next year, with first deliveries scheduled for late 2017. There is a long list of buyers, so it is likely that many customers won’t get their cars until 2018.

Musk said that Tesla’s Model 3 car could generate $20 billion in revenue per year and an annual gross profit of about $5 billion, CNBC reported. The Model 3 will be priced from around $35,000, and the firm plans to produce as many as 500,000 cars per year before 2020.

Efraim Levy, senior equity analyst at S&P Global, told CNBC that “I wouldn’t bet” on Model 3 hitting the market on time.

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