Tesla Model 3 Receives 325,000 Preorders in Just One Week

There was no doubt that the Tesla Model 3 was going to be a big hit after last week saw the newly announced electric vehicle receive 180,000 preorders in just 24 hours. One week on and Tesla has revealed that the preorders kept flowing in, with the number already having reached 325,000.

If all of the preorders are converted into sales when the Model 3 is released next year, Tesla is set to make around $14 billion from sales of the Model 3 alone which will make it the single biggest one-week launch of any product ever. Due to the required $1000 preorder deposit too, Tesla have already made $325 million just for the orders so far and although the deposit is refundable for those who change their mind, it should certainly keep Tesla going until the Model 3 makes it to market. In a tweet today, Musk revealed that despite the cap on preordering two Model 3’s for each person, only 5 percent of customers ordered two cars

Furthermore, the EV firm boasts that they got this huge amount of preorders without advertisement or paid endorsements with only the enthusiasm and passion of the Tesla team and the fans who believe in them and their vision having pushed them and the Model 3 to this level of popularity. In fact, Musk himself was shocked at the number of preorders, stating on Saturday that he expected only between a quarter and a half of the 235,000 preorders that had already been placed although now he expects that it could hit half a million before the second part of the reveal later in the year.

The Model 3’s enormous popularity could just be the stepping stone that electric vehicles need to go truly mainstream, a dream that I am sure Musk and many others share. For other manufacturers hoping to release their new electric offerings in the near future, the bar has certainly been set high by Tesla and the Model 3 is the success story that many will hope to match.

LG Producing Tesla Model 3’s Huge Touchscreen

With an incredible number of Model 3’s already preordered, Tesla is certainly going to need some help if they’re going to come close to filling the demand. According to Reuters, the first of the companies that may be on board to help get the Model 3 into production are LG, who will be making the huge 15-inch touchscreen information displays for the car.

This is a big deal for LG Display as with so many of the Model 3 already expected to be sold, the production of these displays should be a strong and stable source of income for the company, compared to typical consumer products such as TVs, monitors, and smartphones. Reuter’s anonymous source also stated that “LG Display is a sole supplier for the 15-plus inch centre display of Model 3”.  With no competition over the production of the Model 3’s display and its standardized nature, LG won’t have to work hard to stand out to do business, instead focusing on delivering a consistent and high-quality product.

There was no comment as to what prompted the move away from the unnamed provider of the displays used in the existing Tesla Model S and Model X vehicles, but having an established display firm such as LG on side can be nothing but a good thing for Tesla, who are banking their future on the success of the Model 3, which already seems to be paying off.

Tesla Have Taken $7.5 Billion Worth of Model 3 Preorders According to Elon Musk

Yesterday, Tesla unveiled their long-awaited affordable electric car, the Model 3. Tesla may have expected that there would be great interest in this new car for the masses, but the response to it has been enormous, with over 180,000 pre-orders being taken in the first 24 hours alone.

Despite not knowing anything about the new car prior to the reveal, Tesla enthusiasts were queuing up at their dealerships around the US in order to be one of the first to pre-order the Model 3 and gain a favorable spot on the pre-order list. Even by the time that Musk had finished his presentation of the Model 3 at their Hawthorne facility, he announced that 115,000 preorders had already been placed that day, even though each one required a $1000 deposit.

After pre-orders had been made available for over 24 hours at US dealerships, Musk announced via Twitter that 180,000 Model 3 pre-orders had been taken by Tesla. According to Musk’s estimate of the car’s price, $35,000, that’s $7.5 billion worth of cars sold is just one day. The pre-orders show no sign of stopping either, with Musk continuing to tweet that the pre-order numbers had reached 198,000, growing the waiting list considerably.

This is a massive victory for Tesla and the electric car industry, which just shows how adoption for these types of cars is growing. Now, however, Tesla are under massive pressure to deliver on these orders, as 180,000 cars is no small amount, especially when the firm manufactured only 50,580 cars throughout 2015. Tesla claims that after production has been ramped up, they will be capable of delivering as many as 500,000 cars per year. Let’s hope that Tesla and Musk can make good on this figure, or they could be facing a lot of upset customers who may start to consider another competing electric vehicle, such as the Chevrolet Bolt.

Tesla Reveals Their Model 3 Electric Car

Technology companies love-making new toys, especially those that people have wanted for years. When it comes to technology, people have been looking forward to affordable electric vehicles, something which the company Tesla have been keen on creating. This may all come true with Tesla revealing their Model 3 electric car.

With their long-term plan always being that the high-end electric cars, like the Model S, were just a way to bring the technology to everyone at an affordable plan, it is safe to say with the Model 3 they are one step closer to the dream. At its debut event in Los Angeles, the Model 3 appears just like any other car. With a range of 215 miles, the Model 3 will give people access to electric vehicles for everyday drives, and with 0-60 in under six seconds and supercharging as standard the car already gives a wide range of options that make it stand out above electric vehicles before you get the $35,000 price tag.

While a little more expensive than the initial guesses at $25,000, the pre-orders of the Model 3 seems to have already caught people’s attention with Tesla’s CEO Elon Musk stating the over 115,000 pre-orders have already been received. You may have to wait a year or two, with the delivery of the Model 3 not expected to begin until 2018, so a small wait until that new car of your dreams but just in time for testing on the new roads that could see your car charging as you drive.

Tesla Explains How to Reserve a Model 3

Tesla’s new Model 3 may be about to debut in only a few months, at an event scheduled to be held at the company’s Hawthorne, California facility. Any hopeful owners of Tesla’s newest offering will have a long wait ahead of them, though, as the car is only currently expected to be on roads by late 2017. The ordering process won’t be easy either, as Tesla announced in a recently published blog post.

Reservations for the Model 3 will be opening on March 31st in Tesla stores, which matches the date of the debut event for the car. They will also be available online starting at 8:30 PM PT, which is around the time the reveal will be made. The catch is, that to pre-order a Model 3, you’ll have to pay $1000 upfront to even get your name on the waiting list. Considering the car itself is set to cost $35,000, this is a lot of money, but for diehards who want a Model 3 as early as possible, it may be a price you have to pay considering Tesla still haven’t cleared their reservations for the Model X. Tesla states that the best way to stand a chance of getting a good spot on the waiting list is to visit Tesla stores in person, as when reservations finally go live online, many will have already pre-ordered.

Unfortunately, the Model 3 won’t be available everywhere initially either. Initially, the car will be available on the West Coast of the US, before moving east. After the US rollout is complete, versions will be made available for those in Europe, APAC, and right-hand-drive markets at later dates. Tesla “recognize that everyone wants to get their Model 3 as quickly as possible. Our overarching goal is to maximize total customer happiness within the bounds of what is physically possible.”

More news on the Model 3 itself will be available following the reveal next Thursday.

Tesla’s Model 3 Pricing Could Start From $25,000

Tesla Motors is an American automotive company which designs and manufactures a wide range of desirable electric cars. The company’s CEO, Elon Musk is hoping to bring electrics cars to the mainstream market with affordable pricing. Granted, this is probably going to be some time off, but at least that ambition is there for the future. So far, Tesla has released the Roadster, Model S, Model X and scheduled to launch the Model 3 in March this year. There’s been a great deal of media discussion regarding its price point and if the vehicle will face any hefty delays. In an interview with Bloomberg, Tesla spokeswoman Khobi Brooklyn confirmed the price and said:

“We can confirm it’s $35,000 before incentives,”

Brooklyn also dismissed rumours that the Model 3 would miss its launch target and proclaimed:

“The Model 3 is on time, and everyone is going to learn more about it at the end of March,”

“That’s when we’ve committed to talking about it and giving a really great update, and that’s what we’re going to do.”

According to analysis by Salim Morsy of Bloomberg New Energy Finance, Americans are willing to spend an average of $31,000 on a new car. While tax incentives vary between each state, any early adopters who purchase a model 3 can receive $7,500 federal income tax credit, bringing the price down to a maximum of $27,500. Please note, this only applies to the first 250,000 owners. On another note, certain states provide additional incentives to encourage motorists to adopt environmentally friendly electric cars. For example, residents in Colorado receive an additional $6000 in credit. Morsy predicts that the price drop to under $31,000 would increase the Tesla 3’s market by a staggering 50%!

However, some experts are concerned that the vehicle will miss its launch date, and might not arrive in large numbers until 2018. The problem here is the financial incentives could expire before consumers have a chance to purchase the vehicle. Hopefully, the production line runs smoothly and motorists can pick up the Tesla 3 for as little as $25,000.

Tesla Model 3 Will Be Released

Tesla has been pioneers in the electric car field, this has helped by charismatic CEO Elon Musk who has pushed Tesla firmly into the mainstream with innovations that capture consumer imagination. Tesla now plans to launch the “Model 3” with speculation that it will be unveiled at the Geneva Motor Show on March 1st, 2016; this new model will sit alongside the current range that includes the model S and X.

Tesla’s chief designer Franz von Holzhausen had stated that the Model 3 will be conveyed to journalists and the public alike at the 2015 Detroit Auto Show, but that year has well and truly passed without a sign of Tesla’s new model. Now, Tesla’s spokesman Khobi Brooklyn has confirmed that the Model 3 will follow the original plan of it being released in March of this year, a slight caveat to this is that the car is not expected to be on general sale until around 2017.

As for the price, reports suggest that it will be around the $35,000 mark (£24,103.85) or around £30,000 once various taxes have been added on. Reports also suggest that this car will be limited to 300,000 units, although, this could change depending on the popularity etc.

 

Tesla’s projects are always worth following and this one should be no different.

The Bolt, Chevrolet’s Claim to Green Fame

Electric vehicles (EVs) are slowly becoming the norm in today’s society. It all started off with the hybrid Toyota Prius back in the late 2000’s, but now it seems every manufacturer and their brother makes EVs or at least a hybrid. The newest kid on the block is Chevrolet with the “Bolt”. This particular model is to directly compete against Tesla and their future commercially affordable “Model 3”.

Chevrolet first presented this at January’s North American International Auto Show in Detroit. It was brought as a concept, but Alan Batey, president of GM North America, states that the interest from the public has convinced them to bring the car into production with estimated launch of 2017.

Details are still a little thin on the ground, but released figures show the car will sell for around $30,000 and have a plentiful range of around 200 miles on a single charge; much better than the BMW i3 which would also be in the running for the EV town car title.

Chevrolet is not only looking at producing possibly one of the greenest cars to date, but production will also take place at on of the most economical production plants; based at GM’s Orion Assembly near Detroit, powered by gas from nearby landfills and boosted by a 350 kW solar array.

Full details on the Bolt can be found here.

Thanks to Chevrolet for providing this information