Tesla Model 3 Goes Upscale, and Base-Price Buyers Must Wait

Paola Ditto
Mag 22, 2018

Musk also said Tesla would begin delivering the $78,000, dual-motor version of the Model 3 in July.

The vehicle will be capable of covering a range of up to 310 miles, which is the same as the current big-battery single-motor rear-wheel-drive Model S, which can hit 60 mph in around 5.1 seconds.

The performance version will have that range and the ability to accelerate from 0-60 miles per hour in 3.5 seconds on the way to a 155 miles per hour top speed.

But Musk is confident build numbers for the Mode, 3 will hot Tesla's ambitious targets, so now he's set to to deliver temptring promises about the range-topping Model 3 - set to cost close to $80k.

Elon Musk, Tesla CEO, unveiled a faster and more powerful version of the Model 3 in a series of tweets over the weekend. The company needs three to six months after achieving production of 5,000 units a week before it can ship a US$35,000 Model 3 and survive, he said. While they will be able to work together to offer what is sometimes referred to as "through-the-road all-wheel-drive", they also will be able to operate independently, Musk noted in one tweet.

Longtime Model 3 reservation holders who were already invited to configure but were waiting for those versions will get the auto in 12 to 16 weeks.

Tesla designed the Model 3 sedan to be a budget offering, but this is still Tesla. But perhaps the boldest claim of all is that the new Model 3 will "beat anything in its class on the track". Yesterday, Musk's company outlined a new all-wheel drive Model 3 for $78,000 that is supposed to compete with BMW M3 on performance.

Musk also explained that on a Tesla, a dual motor really means two motors, one in front and one in the rear, with one being optimized for power, and the other for range. It's the first Tesla vehicle that's available in the $35,000 (and higher) range.

During the fourth quarter of 2017, Tesla made 2,425 Model 3 vehicles. The standard Model 3 is priced at $35,000 (circa £26,700). On Thursday, Goldman Sachs analysts said it predicted Tesla would need about $10.5 billion in fresh capital through 2020 in order to meets those goals.

Tesla' stock, which shed almost three per cent in Friday's trading session, is down more than to 11 per cent year to date.

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