Part 1 of Tesla Model 3 Reveal

Posted by: Xavier Kwan onApril 1st, 2016


The Model 3 has been shrouded by secrecy and an insane amount of customer demand ever since its existence was first leaked by Elon Musk. After last night’s Tesla press conference, we now know that the Model 3 is priced at $35,000 US for the base model. The luxury brand’s newest model should will have a minimum range of 340 kilometres on a full charge and offer 0-60mph times of under 6 seconds. Faster versions will be available, as will an all wheel drive version at a higher price.

The Model 3 is a four door sedan that has the looks of a mix between the Model S and the Model X. The demand for the Model 3 is primarily driven by the desire of consumers to own a Tesla and secondly a direct result of its affordable entry price. The Model 3 is basically a smaller and stripped down version of the $101,000 US Model S, while maintaining features such as Autopilot. Supercharging will also come standard, allowing owners to easily drive long distance road trips.

Ophir Gotlieb, CEO of Capital Market Labs, says “This isn’t going to be thought of as a $35,000 car, it’s going to be viewed as a $150,000 car on sale.” Elon Musk has said he hopes to sell 500,000 vehicles a year by 2020, and according to Gotlieb Tesla could easily surpass. “That opinion is based on every market survey I’ve seen, which is absolutely staggering with respect to how many people desperately want a Tesla, whether they own an electric vehicle or not” said Gotlieb.

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