{"id":98205,"date":"2015-09-03T08:00:30","date_gmt":"2015-09-03T12:00:30","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=98205"},"modified":"2015-09-03T09:39:47","modified_gmt":"2015-09-03T13:39:47","slug":"musk-unwrapping-tesla-model-3-next-spring","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2015\/09\/musk-unwrapping-tesla-model-3-next-spring\/","title":{"rendered":"Musk Unwrapping Tesla Model 3 Next Spring"},"content":{"rendered":"
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Tesla's Elon Musk tweeted recently that the Model X crossover will be slightly more expensive than the Model S sedan.<\/figcaption><\/figure>\n

Any time Elon Musk starts tweeting, Tesla aficionados scramble to see if there\u2019s news or even hints about what\u2019s to come and in a recent\u00a0string of tweets, he didn\u2019t disappoint.<\/p>\n

Musk, the company\u2019s founder, took to social media to talk about both of the California-based EV maker\u2019s anticipated vehicles: the Model 3 and Model X.<\/p>\n

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Industry News!<\/figcaption><\/figure>\n

The Model 3, which is slated to be maker\u2019s mass-market entry, is expected to transform Tesla from a money-losing, niche operation into a profitable, high-volume manufacturer, Musk previously laying out a goal of hitting sales of at least 500,000 vehicles annually by decade\u2019s end, or 10 times what he expects in 2016.<\/p>\n

Musk suggested the price will be about $35,000 when the production-ready version hits the streets in a couple of years. The Model 3 can\u2019t be brought to market any sooner because it needs the company\u2019s Gigafactory, currently under construction in Nevada, to be churning out low-cost batteries.<\/p>\n

Tesla needs scale to drive down battery production costs, which allows the maker to sell the Model 3 for $35,000, he said. When the Model S was first conceived, early this decade, industry analysts estimated Tesla was paying as much as $1,000 a kilowatt-hour for its lithium-ion batteries. With the Gigafactory at full volume, some estimate that could fall to $200 or less. In a vehicle like the Model S P85d, with its 85 kWh of batteries, the plunge in costs could save Tesla almost $70,000 a vehicle.<\/p>\n

The new Model 3 will get its unveiling in March, Musk said, and although no specific site was offered up that suggests perhaps the New York International Auto Show could be the place. Pre-orders for the entry-level begin after its debut, he added.<\/p>\n

(<\/em>Click Here<\/a> to see how Tesla’s recent stock sale exceeded expectations.)<\/em><\/strong><\/p>\n

Musk also dispelled some rumors about the soon-to-be-released Model X, in particular, that it would be priced significantly higher than the current Model S, which ranges from $70,000 to more than $100,000 depending upon how it is equipped.<\/p>\n

On average, the Model X will be priced about $5,000 more than the super sedan \u201cdue to greater size and body complexity.” Some reports suggested the luxury crossover with its distinct gullwing-style doors would exceed $130,000.<\/p>\n

Tesla could use the extra cash. According to recent estimates, industry analysts believe the carmaker has been losing about $4,000 on every Model S it sells. The company has been burning through cash to develop both the Model 3 and the Model X, the latter project proving more \u201cchallenging\u201d than expected, Musk acknowledged during a recent conference call.<\/p>\n

That and the mixed news in the company\u2019s recent, second-quarter earnings report initially sent Tesla\u2019s stock price plunging. It also forced Tesla to go back to Wall Street with another stock offering, though it ultimately raised nearly 50% more than anticipated. The stock since rebounded, in part because of an overwhelmingly positive review of the Model S by Consumer reports magazine.<\/p>\n

Tesla is hoping it will see a big jump in sales with the launch of the Model X, which could push production to around 1,800 vehicles a week in 2016. The maker is betting it can appeal both to environmentally minded buyers and those who want high performance.<\/p>\n

(Tesla Model S\u00a0lands\u00a0a perfect score from Consumer Reports. For more, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/p>\n

Like the Model S, there will be a high-power version of the Model X, configured so it will do zero-to-60 mph in an estimated 3.8 seconds and, for an additional fee of $10,000, Ludicrous mode can be added, pushing that time down to 3.2 seconds.<\/p>\n

The first iterations will be part of the maker\u2019s \u201cSignature Series\u201d line. While no official pricing has been given on the high-end crossover, Musk did say it would be pricier than a regular Model X so the reported figure is certainly a possibility.<\/p>\n

(To see more about how Tesla could dominate the ride-sharing market, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/p>\n

The Model X will seat seven passengers using three rows of seats and by using Tesla\u2019s flat panel batteries, which are mounted under the vehicle, it has two trunks: one in the conventional spot at the rear of the vehicle and a second one up front where the engine normally resides.<\/p>\n

(Paul A. Eisenstein contributed to this report.)<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

When Elon Musk tweets, people liste, er, read. Tesla’s founder hyped the Model 3 and dispel rumors about the Model X on social media. Details are at TheDetroitBureau.com.<\/p>\n","protected":false},"author":4389,"featured_media":57315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[8],"tags":[],"make":[],"post-state":[],"category_old":[151],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/98205"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/4389"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=98205"}],"version-history":[{"count":0,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/98205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/57315"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=98205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=98205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=98205"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=98205"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=98205"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=98205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}