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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.

3 Important Things To Learn About The 2018 Lucid Motors Air

lucid motors air (49)

The release of the Tesla Model S triggered companies to do research on what could possibly be the best and most affordable electric cars. And while most companies are intent on electrifying their lineup with mass-targeted EVs by 2020, specialty manufacturers like Lucid Motors Air is coming up with their own version of a funky electric sedan.

1. Exterior

Based on the photos of the car from a source, the two most noticeable things about the Lucid Air is the lack of radiator grille and the massive windshield. The engineers over there were pretty confident that the lack of the grille won’t hinder the airflow needed for the motor and batteries, and that’s largely thanks to the vents in the front hood. The massive windshield adds to the very modern styling.

2. Interior

The unique exterior would only need to be completed by the superior styling of the interior, too. The primary focus of anyone who would see the interior of the car is the floating dashboard with a huge display module at the front of the driver. This includes three different displays—one for navigation and driver information center, one for the instrument cluster, and one for the battery charge state, range, etc.

The front cabin might be nice, but the rear passenger seats are on another level. Angled like a bathtub, which means the seats are reclined, the rear cabin is unparalleled in comfort and luxury. There’s a long center console in the middle of the seats that also houses a small display to let passengers control various features.

3. Drivetrain

Lucid developed its battery for over a decade, allowing it to go 400 miles on a single charge on 1,000 horsepower of near-instance go juice. The engine itself is an electric motor and transmission that are probably better than what we now see in the market.

The base model of the Lucid Motors Air offers up to 240-mile range with 400 horsepower in a rear-wheel-drive configuration. It should be able to compete with the Model S, including a much cheaper price of $52,500.

Once it is launched, there will also be a Launch Edition that has 1,000 horsepower and 315 miles of range on a single charge.

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.

 

2017 Chevy Bolt Versus 2016 Tesla Model S 75D

1-pa270244-1 Tesla Model S

The 2017 Chevy Bolt just bested Tesla Model S 75D in its own game. While the Chevy Bolt only has an EPA-estimated range of 238 miles of driving on a single charge, the Tesla Model S 75D has a rate of 259 miles. The specifications would point to Tesla as the better between the two, but Consumer Reports made a head-to-head comparison that just put Tesla to shame.

According to the results of the study, the Bolt outperformed the Tesla by not only reaching its 238 range, but surpassing it by 12 miles to reach 250 miles. The 2016 Tesla Model S 75D, on the other hand, went 235 miles, a lot less than its 259-mile rating and even Bolt’s original range of 238 miles.

The 2016 Tesla Model X 90D, which has a rating of 257 miles, also died at just 230 miles, proving once and for all that you can never trust these electric cars on paper. Consumer Reports has yet to test the 100D variants of the Model S and the Model X, but there are high expectations for these variants. Experts, in fact, agree that the 100D variants would be better than the Chevy Bolt.

But the contention remains on the price. The 100D variants of the Model S and the Model X better give you a rating of more than 250 miles since the starting price is at $100,000 (before the federal tax credit) while the Bolt only has a selling tag of $37,495.

The testing confirmed that the Chevy Bolt should be ranked as the second best all-electric vehicle, next to the Tesla Model S. Aside from the range, the Bolt bested the Tesla Model S 75D in terms of agility and quietness too. It only fell on the categories of having a “squishy” brake, uncomfortable seats, bumpy ride, and the longer charging time. All these, of course, can easily be remedied, but the range remains to be the deal breaker.

 

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 Ditches Model S 75 RWD

tesla model s 75

The introduction of the Tesla Model 3 means the American e-vehicle company is going to drop something off its lineup. Tesla has a history of reconfiguring the bottom end of its lineup whenever something is added on its top end. For the Model 3, the reconfiguration would hit the Model S 75 RWD.

Beginning this month, Tesla will deliver the first orders for Model 3, which means the discontinuation of the least expensive version of the Model S by the end of 2017. The Model S 75, which employs a rear-wheel-drive system, is currently being sold for $69,500.

Once Tesla pushes through with its plan to drop the Model S, the only remaining cheapest Model S would be the all-wheel-drive 75D, which is selling for $74,500. Generally, this move will increase the price gap between the Model 3, which starts at $35,000, and the Model S.

The S range would also turn into an AWD-only lineup with the Model 3 being the only Tesla available with a rear-wheel-drive system.

The gap further widens in terms of features, configurations, and even battery charging fees. Comparing the two vehicles, a Tesla document showed that the Model S has more than 1,500 configurations and several other premium features while the Model 3 has less than 100 possible configurations.

In addition, those who buy a Model S with a referral get free Supercharging for life while those who drive the Model 3 will have to pay every time they charge using Tesla’s network.

Of course, it sure do looks like the two sedans belong to different ends of the spectrum because of their completely different price range, features, and performance. The strategy of the company is glaring, though, for many: widen the gap and offer only the most efficient versions of the vehicles.

After all, it worked with Tesla in the past. Who would say it won’t work now?

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.

Toyota Remains the Most Valuable Car Brand in the World

2018 toyota camry and camry hybrid

Toyota retains its status as the most valuable car brand in the world. The company toppled the likes of luxury car giants like Mercedes-Benz and BMW to keep its position.

According to Autoweek, the Japanese automaker’s value dropped by three percent to $28.7 billion. The decrease was attributed to the tough currency rates, in addition to the company’s investments and increase in labor costs. Despite the setbacks, Toyota topped the vehicle segment of the BrandZ Top 100 Most Valuable Global Brand study made by market researcher Kantar Millward Brown.

Brown said Toyota is still viewed by customers as a reliable brand with quality value. Even with the recall issues going on, Toyota car owners gave positive reviews to their cars.

Based on the report, the study was first conducted 12 years ago. Since then, Toyota has landed in the number one rank 10 times.

In our earlier article, Toyota projected that further losses in revenue and net income are expected for the current fiscal year, which ends in March 2018. The company, through its CEO Akio Toyoda, defended that the slump is also in line with their vision to put more priority in stabilizing their future investments rather than focusing on short-term profit.

The Toyota CEO added that to safeguard the company’s future, they created an internal division called the Toyota Research Institute. The new division aims to work on futuristic technologies like the development of electric and hybrid vehicles as well as a potential autonomous car.

BMW and Mercedes landed on the second and third spots, respectively. BMW fell in value by eight percent to $24.6 billion while Mercedes rose by four percent to $23.5 billion.

On sidelines, Tesla seems to be catching up fast in the global car brand rankings. The company just jumped from number 10 last year to number 8 at the present, thanks to an increase of brand value by 32 percent to $5.9 billion. The car maker overtook Land Rover and Porsche to secure its new place in the hierarchy.

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