Tesla was briefly the most valuable car company in United States, until Americans realized that the company was nothing but junk – production delays, technical issues, horrible sound insulation, sunroof leaking, buggy door handling, terrible interior quality and the list goes on. That’s a long list of bugs for an expensive car such as Model S and Model X (US$97,500 to US$145,000).

 

Overall, the electric carmaker Tesla delivered a pathetic number of units in 2016 – 76,230 vehicles, falling slightly short of its self-proclaimed goal of delivering 80,000 cars for the year. Boss Elon Musk had a huge challenge in order for Tesla not to go belly up – to produce a beautiful car, an inexpensive car, a performance car, and more importantly – no gimmicks or delays.

 

Meet Tesla Model 3 – a four-door sedan which starts at US$35,000 a pop, unleashed by Mr. Elon on Friday night on the grounds of its assembly plant and research facility outside San Francisco. The first cars off the line on Friday were sold to 30 of Tesla’s employees as both an appreciation of their work and to provide the company with immediate feedback on the quality of the product.

Mr. Musk warned employees attending Friday’s Model 3 event that the company is in for “six months of manufacturing hell”. On paper, Model 3 should have little problem becoming the best selling electric car, so much so that CEO Musk could be in trouble for accepting “refundable” US$1,000 deposits from 500,000 people since last year to reserve delivery of Model 3s when they are available.

 

During the launching, Elon Musk turned over the first 30 Model 3s to employees who had ordered the new car, whereas he himself will keep the very first production version of the Model 3. He said – “We finally have a great affordable electric car that is absolutely what is needed. There was no great affordable electric car and this one is.”

 

The Tesla Model 3 could be the beginning of a successful electric car, the same way iPhone was when the first smartphone from Apple was introduced to the public on January 9, 2007 by Steve Jobs. Fans are already calling the Tesla Model 3 event a “historic landmark,” similar to the substantial attention given to Apple Inc. ten years ago.

Not only the newly launched Model 3 looks sexy, it’s also affordable that it might cannibalize Model S and Model X. In essence, there’re two versions of Model 3 – the US$35,000 version and a more expensive US$44,000 version. So what do you get for an additional US$9,000? Plenty but the main juice is the mileage – the US$44,000 version gets you a whopping 310 miles between charges.

 

That’s a cool 499 kilometres with every single charge, 90 miles (145-km) more than the base model US$35,000 version and even higher than the all-electric Chevrolet Bolt’s 238-mile range. Seriously, even at 220 miles (354-km) range, the standard Model 3 is already quite awesome. The standard model and the long-range model could go from 0-60 in 5.6 seconds and 5.1 seconds respectively.

 

The Model 3 is also equipped with so-called autopilot features, otherwise known as the Enhanced Autopilot, which will cost an additional US$5,000. With the Enhanced Autopilot in place, customer can add on features such as full self-driving capability for another US$3,000. The final price tag could skyrocket to US$60,000 with premium upgrade package, costing an extra US$5,000 – before taxes.

The so-called premium upgrade package includes premium heated seating, two rear USBs; premium audio system with more power, tweeters, surround speakers and subwoofer; 12-way, power adjustable front seats; tinted glass roof with ultraviolet and infrared protection; Auto dimming, power folding, heated side mirrors; LED fog lamps; Center console with covered storage.

 

Musk claims his company can build 10,000 vehicles a week, or 500,000 a year, by the end of next year. Deliveries of the first vehicles to the public (non-employee) buyers may begin in September or October. But for those who wish to order now, they would receive their Model 3 only late next year (2018). In comparison, Volkswagen and Toyota produce an average of 25,000 vehicles a day.

 

The first thing that catches a customer eyes in the interior is the 15-inch touch-screen display that has all of the information needed, including a navigation map. But above all, the Model 3 doesn’t come with a car key – stop bashing the Tesla employees for not giving you one. Your phone is your key. You also get a valet key so when you pull up to a restaurant or hotel, you can give the valet key, NOT your phone.

Standard Model 3:

• US$35,000 starting price
• 220 mile (354 km) range
• 0-60 in 5.6 seconds
• 130 mph (209 kph) top speed
• Supercharging rate: 130 miles (209 km) in 30 minutes
• Home charging rate: 30 miles (48 km) of range per hour (240V outlet, 32A)

Long Range Model 3:

• US$44,000 starting price
• 310 mile (499 km) range
• 0 to 60 in 5.1 seconds
• 140 mph (225 kph) top speed
• Supercharging rate: 170 miles (274 km) in 30 minutes
• Home charging rate: 37 miles (60 km) of range per hour (240V outlet, 40A)

 

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July 30th, 2017 by financetwitter

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