Details about Tesla’s new Model 3 have been very underwhelming. Many people are hoping that this new vehicle would be a turning point for Tesla to come back from a gradual financial decline over time. Previously, Tesla CEO Elon Musk had simply announced that the Model 3 would most likely launch in July 2017. Although many analysts and suppliers believe that the release date would be difficult to achieve, Musk continues to expand his ambition for the Model and has recently mentioned more details about the Model 3.
Right now, Tesla’s Model 3 is one of, if not the largest, news for the electric car industry and the general. automobile industry as well. Recently, Musk had shared details about the Model 3 on Twitter, a rather unusual method to announce information for such an important vehicle. Tesla had already disclosed general specs of the Model 3 when the launch date was announced. The Model 3 will start at $35,000, have a range of at least 215 miles, a more efficient battery and “all-wheel drive optional”, Autopilot, and technology from the Model S.
Currently, the only vehicle with a similar price and range is the Chevy Bolt which launched last October in California and Oregon, meaning that the Model 3 will see a surge in popularity when released.
The Model 3 will definitely be a “designer” car, in the sense that there are not too many differences compared to the Model S. Reviewers have said that the “front end design now looks like a bit like a Porsche Panamera,” with an enhanced Autopilot experience due to the inclusion of cameras. Tesla had mentioned that the Model 3 wouldn’t have anything “majorly new that a consumer would notice.” Elon Musk himself had said that the “Model 3 is just a smaller, more affordable version of Model S [with] less ranger & power & fewer features” on Twitter.
The main concern for Tesla is releasing the Model 3 as soon as possible. As a result, Tesla is skipping the beta-testing phase and is rather selling the Model 3 to employees to beta test, making the process a lot short than what it would be. If anything were to wrong, employees would simply drive to work and receive repairs for free.
Many investors were disappointed after Musk announced that the all-wheel drive would not be released until next year. They had expected that the top-shelf AWD models would be released first as they would yield the most profit for Tesla, a pattern that was seen in previous generations of Tesla vehicles.
Compared to the Model S and X, the Model 3 will have a smaller battery capacity size. Compared to the previous 100 kWh batteries, the Model 3 will be limited to only have a 75 kWh battery. Even though the previous models had larger battery capacity sizes, the Model 3 may potentially have a greater range due to the lightweight design. Compared to the Chevy Bolt, Musk had suggested that the Model 3 would have a greater range. The base Model 3 will potentially offer a greater range with respect to a smaller battery capacity compared to the Bolt, meaning that the larger battery capacity options would clearly outweigh the Bolt in terms of range.
Musk had compared the Model 3 with the BMW 3 series or the Audi A4. He also compared to the Model S with the BMW 5 or 6 series, except that it is “much faster, [has] more storage space, [and had] Autopilot.”
Another one of Musk’s futuristic ideas is that a Model 3 owner could potentially offer their vehicle as for-hire car sharing vehicles. Musk is suggesting that owners could earn money from others who would pay for the service, while they do not need their vehicle at the time.
By the end of 2017, Musk is projecting a production rate of over 5,000 vehicles per week, and close to 10,000 vehicles per week by the end of 2018. By the end of 2018, Tesla would be able to add around 430,000 Model 3s, along with another 70,000 to total up to half a million vehicles, including other models.
The Model 3 is shaping up to set records and generate popularity like no other car before it, and Tesla will continue to be in the spotlight in the coming years.