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Tesla Motors News Update for Week of March 20th: Model 3 and More

Tesla Motors Inc (TSLA) Model 3

There are just 6 days left until Elon Musk presents the new Tesla Motors Inc  Model 3 at an invite-only event in Southern California. As the event nears and speculation grows one thing is sure – we can expect some surprises. The first unknown is when the event will actually begin. Will Elon be true to form and keep us waiting? Will he surprise us all and start on time? In the case of the Model 3 reveal the start time actually matters quite a bit as online reservations for the car begin when the event starts. There is bound to be a lot of page refreshing by anxious, wannabe Model 3 owners. Hopefully, Tesla servers are ready for a potential and hopefully mad rush.

Tesla Motors Inc (TSLA) Model 3 Logo
Tesla Model 3 Logo – Source: Tesla Motors Inc

Here are some of the top stories coming out of Tesla this week.

Model S price changes are coming in April

Tesla just confirmed that buyers will see “price changes” for the Model S starting in April. It is assumed that “price changes” equals “price increases” but that remains to be seen. The price change news was released just days before the Model 3 launch leading some to believe that changes to the Model S could be announced next week at the Model 3 event.

Want a Tesla Model 3? Get in line.

If you are among those planning to reserve a Model 3 next Thursday you have two choices.  You can stand in a physical line at a Tesla Store or you can place your reservation online when the unveiling event begins. Tesla stores open at 10:00am local time (in the US). The actual unveiling is scheduled to begin at 8:30pm PST.

The big question is, “how do these lines work and where will I actually be in this line?”. Some of the information we’ve been given by Tesla in the last week has been a bit confusing.

We have been told that current owners of Tesla Motors cars will have priority. This means that if you own a Tesla today, you may go to the front of the line. But here’s where things get confusing…

When the Model 3 begins to deliver in late 2017 or early 2018, reservation holders on the west coast of the US will be the first to get their cars. Does this mean that East Coast reservation holders will be the last to get delivery? What if current Tesla owners on the East Coast have reservations? Will they get delivery before non-owners on the West Coast or will they have to wait?

Like I said… a little confusing.  You can read more about Model 3 reservations here.

Are you planning to make a Model 3 reservation? If so, please let us in on your strategy in the comments below.

Changes to Tesla Energy and the Powerwall

Tesla Motors Inc. (TSLA) PowerwallIt was recently observed that references to the 10-kilowatt-hour residential battery were being removed from the Powerwall website. Why the EV firm removed the higher-capacity version was not known until now. Confirming the removal, Tesla told GreenTechMedia that they had decided to focus on the daily cycling version.

“We have seen enormous interest in the Daily Powerwall worldwide,” Tesla said, adding, “The Daily Powerwall supports daily use applications like solar self-consumption plus backup power applications, and can offer backup simply by modifying the way it is installed in a home. Due to the interest, we have decided to focus entirely on building and deploying the 7-kilowatt-hour Daily Powerwall at this time.”

Tesla has made owning electric cars cool

The “coolness factor” is one of the 5 reasons Tesla can’t lose in the race to capture the worldwide EV market.

In an article published here last Sunday, Teslas history was briefly examined and 5 reasons for the company’s success so far were offered. The “coolness factor” is one reason given.

“If you wind the clock back 7-8 years, conversations about EVs would evoke images of frugality, conservation and reduced consumption. If you wanted to have a highly-efficient car, you usually would have to give up comforts such as styling, space and features which are seen in traditional gas or diesel-powered vehicles. Tesla turned out to be a game-changer in this aspect, making large and spacious EVs which not only helped you care for the environment, but also allowed you to indulge in spending more on a really nice, luxury vehicle. An entirely new market has opened up that caters to people who would typically drive gas-guzzling Land Rovers and sports utility vehicles. Owning an EV has never been cooler.”

Vacuum cleaner maker Dyson will Compete in EV Market

Tesla Motors Inc (NASDAQ:TSLA) Dyson Vacuum EVDyson makes a mean vacuum. We own two of them and I can honestly say that they suck – but only in the truest and most positive sense of the word. They are excellent machines.  So other than the fact that both vacuum cleaners and electric vehicles run on electricity and both have wheels where would Dyson get the idea that they should get into the car business? And where did the media get the idea that Dyson was going to build cars in the first place?

The truth is that Dyson isn’t getting into the car business.  It is getting into the battery business.

Last Wednesday, U.K. government documents showed that Dyson was in fact building an EV at its HQ in Malmesbury. According to reports, the news is said to have been disclosed by accident and was corrected the next day. Here’s what’s really going on:

“The government is providing a grant of up to ₤16m to Dyson to support research and development for battery technology at their site in Malmesbury,” the corrected copy read. This was pointed out by the Guardian on Thursday.

So, Dyson wants to be more than a vacuum maker. It already has plans to invest $1.44 billion in building advanced battery solutions. This effort will span over the next four years. Dyson batteries could be used to power an EV – even their own EV if they chose to build one.

Elon Musk is getting divorced – Could it affect Tesla?

On Monday we found out that Elon Musk’s current wife, actress Talulah Riley, has filed for divorce in Los Angeles. This would be Musks 2nd divorce. Thousands of people go through divorce each day and it doesn’t make headlines; however, if you happen to be the well known CEO of two highly visible publicly traded companies, your personal life could land in plain view to the whole world.

The news of Musk’s potential divorce is particularly worrisome to some because it could affect Elon Musk’s personal finances and by implication, the financials of Tesla Motors. When most people file for divorce, they may fight over who gets the house, car, and how joint assets are shared, among other things. The situation is the same in Musk and Riley’s case, except that the soon-to-be ex wife seems to be going for Musk’s jugular asking for an alleged $13B divorce settlement.

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Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.

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