Published: Wed, August 02, 2017
Markets | By Erika Turner

Tesla's model 3 electric auto will set you back $42000

Tesla's model 3 electric auto will set you back $42000

These battery packs are expected to reduce the per-kilowatt-hour cost of its battery by more than 30%, which, in turn, allows the company to make a mass-market electric vehicle 50% cheaper than its luxury Model S.

"It was never our goal to make expensive cars".

The 3 is the weakest in the looks department, as the high roofline and slab-sided design is a big departure from the Model S' taut, handsome lines. Tesla is aiming to produce 500,000 total cars next year, after producing only 84,000 last year.

But Musk says Tesla worked hard to make the Model 3 simpler and cheaper to make than Tesla's previous vehicles.

Tesla CEO Elon Musk has said the cell developed for the Model 3, known as the "2170", is more energy dense than the cells used in the Model S and Model X, according to Electrek.

Musk continued: "If you buy a ticket to hell, it isn't fair to blame hell". People ordering a auto now likely won't get it until late 2018. About 70 percent of those with reservations said they are likely to take delivery of the cars.

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Ford did not say how much it expected to pay to fix police vehicles and said its investigation is ongoing. In Texas, the Austin Police Department has pulled almost 400 of its Ford Explorers off the street.

Tesla will also be using the Model 3 as an opportunity to scale up its manufacturing.

The first non-employee Teslas are expected to be shipped from October 2017. It's made primarily of steel, not aluminum.

Sam Abuelsamid, a senior researcher with Navigant Research, said even if it doesn't meet its ambitious targets, Tesla has done more than anyone to promote electric vehicles.

The company is now focused on getting out of "Model 3 production hell", which is basically a way of saying that it wants to ramp up Model 3 production to full capacity before it starts taking orders for a new model. The company reported an earnings miss in the past two quarters, but before that it was a yo-yo pattern of hits and misses. Tesla's quality has been notoriously uneven.

While the up-marketing strategy could deliver stronger profits and margins in the long run, the more immediate question is how quickly Tesla will be able to ramp up production. But Fremont not only has to cope with production of three different vehicles but three completely different vehicle platforms, a challenge for even established automakers like Toyota or General Motors.

"A decade ago they were a little more than golf carts".

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