Car News - ReviewItOnline.net

Latest News for Cars, Trucks & SUVs

Tag Archives: elon musk

Tesla Model 3 Gets Funded For Production

tesla model 3

Were you a bit worried that the much-awaited Tesla Model 3 won’t see production because of funding? The car business is quite an expensive one, and the production of the Model 3 was almost halted because of it.

But it looks like Tesla CEO Elon Musk’s plan to boost production to 500,000 units by the end of 2018 is now possible, thanks largely to investors’ faith and trust in the young entrepreneur. Unlike many products and concepts that are still looking and begging for investors, Musk was the only face needed for these big businessmen to trip over themselves to raise money for the Tesla Model 3.

Musk was simply seeking $1.5 billion last week, and he managed to raise $600,000 of that four hours after his announcement. Now, we heard reports that he was able to sell a half-million worth of Junk bonds to investors, which totaled to $1.8 billion, surpassing the initial amount he was seeking.

The investment is in the form of “eight-year unsecured bonds at a rate of 5.30 percent.” The investment is not without its risk, of course. Such investment yields bigger profit in the long run, but it’s also possible to lose your money when the company you invested your money in made some bad decisions along the way. Hopefully, we won’t see Musk do that.

One of the biggest challenges that face the production of Tesla Model 3 is its dependency on Gigafactory to supply each and every battery—both the standard- and long-range model. Though there is no problem about bringing in profit from the manufacturing of the battery itself, even Musk admitted that he was worried about the lack of battery cells.

Only time will tell if there’s going to be a shortage of cells in the future. When that happens, Tesla might need to cut short its production of the long-range model of battery and stick with the standard-range model, which uses fewer cells.

Starting Price Of Tesla Model X Dropped

tesla model x 75d

The Tesla Model X 75D luxury electric sport-utility vehicle will now have a starting price of $79,500, which is $3,000 less than the original price. The move comes on the heels of the launch of the new Tesla Model 3, which will have a starting price of $35,000, the most affordable in Tesla’s lineup of electric vehicles.

Analysts predicted and even feared that the introduction of the Model 3 to the market will significantly affect the sales of Model X as customers will now want to settle for the cheaper sedan than the luxury SUV. But Tesla CEO Elon Musk was quick to shrug off the speculations. He said that the demand for Model X has not waned and that there is still very much a market for a $79,500 electric SUV.

Musk said that the Model X had a low gross margin when it was launched. However, as the company achieved fuel efficiencies, they decided to lower the price and pass that value to the customers.

The demand for Model X and the Model S has actually increased, the Tesla CEO added amid fears that the Model 3 will isolate the other vehicles in Tesla’s electronic range. The Model X’s most expensive variant, the P100D, costs $145,000. It has the fastest acceleration among Tesla’s models and also has a longer range.

The Model 3 is being marketed as an electronic car for the masses. With a starting price of $35,000, this is easily accessible for those who want to be environment conscious. However, there are still plans for a longer range model that will be priced at $44,000. This model will compete with luxury sedans such as Audi A4, BMW 3 Series, and the Mercedes C-Class.

Although Tesla is adamant that Model 3 did not affect the other vehicles in its lineup, overall gross margins excluding stock-based compensation and revenue from zero-emission vehicle credits decreased to 25 percent in the second quarter from 26.4 percent during the same period last year.

 

Elon Musk Says Tesla Model 3 Performance Version Will Arrive Next Year

tesla model 3

Tesla finally handed over units of its Model 3 to those who had it reserved months ago. Although the production are only in small numbers, more are expected to come as the electric car manufacturer is ready to roll out performance versions of the Model 3 next year.

Tesla is gearing up to boost production of the Model 3 in the Long Range trim because a new version is expected to come out next year. The Model 3 has an estimated EPA of 310 miles range, which will probably increase significantly when the performance variant debuts next year.

Tesla CEO Elon Musk answered questions about the Tesla performance variant on Twitter. It can be recalled that Musk hinted last year that after the production of Model 3 went full swing, a performance version would be in the works.

He told Twitter user Ryan McCaffrey (@DMC_Ryan) that a performance variant will probably debut by the middle of next year. “Focus now is on getting out of Model 3 production hell. More version = deeper in hell,” Musk said.

The problem is that while Tesla is in the middle of producing the Model 3 according to the demands of the market, more pressure will be put on it once more variations of the car come out. For now, it’s the Long Range Model 3 that is available to the market. The base model of Tesla’s most affordable electric vehicle will be available this fall.

The base model is priced at an affordable tag of $35,000, and it has an EPA-estimated 220-mile range.

Tesla was the first company to prove to the auto industry that electric cars can be fun, too. Its Tesla Model S was the one who introduced dual-motor configuration, which led to the P100D. The performance variant of Model 3 will likely use a similar motor design, though it might not be as powerful as the P100D.

Tesla Rolls Off First Model 3 As Mass Production Begins

tesla model 3 (1)

Tesla CEO Elon Musk has given car enthusiasts and experts a glimpse of the very first production version of the Model 3, the company’s third production vehicle following Model S and Model X. Musk did well on his promise to start off mass production before the week ends as he tweeted earlier that Tesla plans to roll off 20,000 units by December 2017.

The Model 3 sits below the larger Model S, and is even more affordable with a suggested retail price of $35,000, excluding government incentives. The release of the Model 3 on Friday launched Tesla to a bigger market, where people are more interested to investing in electric cars, particularly the Tesla brand.

According to a tweet from Musk, the first Model 3, which he named SN1 (Serial Number 1), is completed and is on its way to the inspection board. “Production unit 1 of Model 3 is now built and going through final checkout. Pics soon.”

The first Model 3 was supposed to be reserved for Tesla board member Ira Ehrenpreis, who was the first to place a full deposit for the model. But instead of taking the car for himself, Ehrenpreis gave the first-slot rights to Musk as a 46th birthday gift.

Ehrenpreis will instead have the rights to the second production car, the Tesla CEO said in a tweet. Musk did not reveal any updates about the Model 3’s powertrain, but there should be more details in the coming weeks.

Customers to Get Their Hands on Model 3 by July 28

There is a huge demand for Model 3 and hundreds of thousands of people have already reserved for a unit, which will begin deliveries on July 28. By December 2017, Tesla plans to produce 20,000 units and 500,000 vehicles annually by next year.

Musk is confident that demand for the Model 3 will increase “exponentially” in the coming months.

Tesla Model 3 Photos

Here is a glimpse of the Tesla Model 3:

Customers Can Get Their Hands On First Tesla Model 3 On July 28

tesla model 3

Shortly after leaving US President Donald Trump’s advisory board, Tesla and SpaceX CEO Elon Musk went right into a lifelong work—producing environment-friendly vehicles. On Monday, he announced on Twitter that the first Tesla Model 3 would be completed this Friday, July 7.

In his first tweet, Musk said that Model 3 “passed all regulatory requirements for production two weeks ahead of schedule.” This gives the Model 3 enough time to be finished and completed this Friday.

Earlier reports said that Tesla would aim to start the production of the company’s Model 3 this July despite a first-quarter loss. It seems Tesla indeed reached its goal because in his second tweet, Musk revealed that the first 30 owners of Model 3 will have the vehicle by July 28. There was even a mention of a “handover party.”

The production for Tesla’s Model 3 will continue to grow in the coming weeks, the same tweet said. The Tesla CEO said there should be 100 cars available in August and above 1,500 units by September. In his third and final tweet, which was also the shortest in the series, Musk estimated that Tesla would be able to produce around 20,000 units a month of the Model 3 by December this year.

If the company would be able to reach that target, then they would be addressing the backlash over the production delays that plagued the previous Model X.

In another tweet, the Tesla CEO thanked everyone who “own or ordered a Tesla.” “It matters to us that you took a risk on a new car company. We won’t forget.”

Model 3 to be priced at $35,000

Tesla’s Model 3 is expected to come with a price tag of $35,000, but that’s before government incentives. It will have a driving range of more than 215 miles and will be able to reach 60 mph in 5.6 seconds.

Inside, the Model 3 will be equipped with a 15-inch center touchscreen, which is only slightly smaller than the Model S’ version. It has 14 cubic feet of volume in the front and rear cargo.

BMW Prepares to Challenge the Tesla Model 3

bmw 3 series plug-in hybrid

The Tesla Model 3 is set to be revealed this month. Looming in the scene is BMW with its plan to launch an all-electric sedan to take on the company led by Elon Musk.

According to Trusted Reviews, citing German publication Handelsblatt, BMW has set its sights on introducing a car that will rival the Tesla 3 and the company will reveal it at the Munich Auto Show in September.

The Tesla Model 3 challenger will come from the 3 Series range of BMW. The fully-electric sedan will be the company’s first in its bid to enter the electric vehicle segment of the market, which is dominated by Tesla.

The source claimed that the electric 3 Series will have a range of at least 400 kilometers. No other details have been revealed yet though. It should be noted too that BMW had not released an official statement about the matter so take this with a grain of salt.

At present the BMW 3 Series saloon car has a starting price of £25,740. An electric variant of the vehicle might cost more than that due to the cost of developing and manufacturing one. Add to that the expenses of sourcing parts like the battery and electric motor. On the other hand, the German luxury automaker might not jack up the value of the coming EV too much so that it will be competitive with the pricing of the Tesla Model 3.

The BMW 3 Series has been in production since 1975. The product is the entry-level luxury car of the German automaker. The vehicle is currently in its sixth generation model.

A plug-in hybrid model of the 3 Series was introduced last year. The car has gained good reviews so for its design and easy-to-use features. We think it is just right for BMW to follow up on its success by producing its new EV under the 3 Series platform.

Upgraded Battery for Tesla Model S and X Performance Versions Introduced

tesla model s performance model p100d

Tesla just introduced a new battery that will power up the performance variants of its Model S and X cars. The new unit promises more range and better acceleration for the said vehicles.

According to Tesla’s chief executive Elon Musk in his interview, the upgraded battery of the electric vehicle brand is a “profound milestone” for the company. He explained that despite the battery having the same cell chemistry with its predecessors, it has been reconfigured to offer more energy.

Musk promised that the new 100-kilowatt hour battery pack of Tesla will offer faster acceleration to the P100D, which is the performance version of the Model S sedan. He claimed the power unit will make the P100D the fastest accelerating production car in the world.

The P100D is expected to sprint from zero to 60 mph in just 2.5 seconds. Musk admitted that there are other faster cars in the market, but he asserted that the mentioned vehicles are limited edition models only unlike the Tesla car, which is mass produced.

In addition to the acceleration boost, the new battery increases the range of the Model S. Musk stated that from the former 290 miles range of their older battery they were able to increase the range of the upgraded one to 300 miles. He added that it is even possible for the car to cover up to 400 miles without recharging during cool weather.

Musk revealed that the introduction of the upgraded Tesla batteries will help fund the development of the more affordable Model 3 units. The company is looking to make a total of 500,000 all-electric vehicles in 2018.

At present, the starting costs of the performance variants of the Tesla Model S and X vehicles are at $108,000 and $115,000, respectively. It should be noted that the disclosed pricing reflect the ones without the new battery pack yet.

About Us - Contact Us - Terms and Conditions - Privacy Policy - Advertising

Copyright © 2016 Reviewitonline.net. All rights reserved.