Saturday, 22 July, 2017

Does Tesla's version of a 'production' vehicle meet muster?

Tesla market cap vs GM and Ford By James Ayre
Garry Little | 11 July, 2017, 00:49

The first Model 3 was reserved for Tesla board member Ira Ehrenpreis, who gifted it to Elon Musk as a present for his 46 birthday, which he recently celebrated his birthday on June 28.

Photos of the Model 3 in red and silver.

The new model comes after a bad week for Tesla's stock price. "Expecting to complete SN1 on Friday". Musk said on Twitter production should rise to 100 cars for August and then above 1,500 in September.

Tesla has already taken in roughly half a billion dollars in Model 3 deposits, at $1,000 apiece, and its proposed ramp-up schedule would have it rivaling well-established U.S. market peers like BMW and Mercedes by year's end.

It's this seamless combination of future-facing yet contemporary that places the Model 3 in exactly the right position for Tesla to draw in newcomers.

"South Australian customers will be the first to benefit from this technology, which will demonstrate that large-scale battery storage is both possible and now, commercially viable". Customers who put a deposit down now will not receive the vehicle before the end of 2018, he said at the company's annual shareholder conference in June. Tesla also said Monday that first-half deliveries of the Model S sedan and Model X SUV totalled about 47,100, at the low end of the company's projections. Franklin Resources Inc. now owns 10,293 shares of the electric vehicle producer's stock valued at $2,200,000 after buying an additional 300 shares during the period.

During a shareholder meeting last month for TSLA stock holders, Musk stated that unlike their luxury models, the Model 3 would not have as many customization options, apart from color and wheels.

The auto Tesla has been billing as a game changer for electric vehicle take-up has arrived - and it's Tesla chief executive Elon Musk's. The company has not updated that figure, though analysts have estimated it is now somewhere between 400,000 and 500,000.

The most obvious change is the front end which appears sharper and not as flat as what was shown on the pre-alpha prototypes just over a year ago.

Reports suggest that Tesla has a lot riding on the Model 3.

The $35,000 (£27,100) auto is Tesla's first mass market vehicle and the first 30 owners will get behind the wheel on 28 July. Traditional manufacturers accelerated their plans for electric cars.

The project win follows a hard week for Tesla, which lost about $12 billion in market value after reporting underwhelming sales, and faces increasing competition from Volvo Car Group, which vowed to electrify much of its its vehicle lineup over the next few years.

Tesla admitted last week that it was struggling to make enough of its advanced batteries that enable its cars to travel more than 300 miles on a single charge.

Safety has always been a priority for Tesla and TSLA stock, and the same is true for the Model 3 as well. (NYSE: GM) are priced near the 2016 average new vehicle price of $34,000. The vehicle that rolled off the production line on Friday shouldn't stray far from the original prototype unveiled in March 2016.

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