If you’re a Tesla owner who spent the past year diligently convincing your friends and family to join the club, clear your schedule for July 29.
The electric automaker recently mailed out invites to a grand opening party for its battery-producing Gigafactory, located (like a Bond villain’s lair) in the desert outside Reno, Nevada. The chances of guests being wowed by a fully operational factory humming with workers busily cranking out EV batteries is doubtful, though. (Read More…)
It’s billed as the affordable electric car of the future, but 12,200 reservations have dropped off the Tesla order list since the company’s Model 3 came on the scene.
The new tally was revealed when Tesla announced plans to raise $1.4 billion through a share offering to boost its financial standing, Bloomberg reports.
Since orders opened, 4,200 duplicate reservations have been erased by the company, and 8,000 customers have backed out of their purchase. That leaves 373,000 reservations on the books, each backed by a $1,000 check. (Read More…)
As the owner of a 2013 Tesla Model S P85 and occasional TTAC writer, I have my opinions on the Model 3. Many commenters thought Tesla’s business model of starting at the high-end and working its way down market was crazy, but Elon Musk had the right idea: use the cash flow from high-end car manufacturing to ramp up your engineering chops and supplier relationships so you can push prices down to eventually make a mainstream product.
That’s exactly what Tesla is doing and the plan seems to be working brilliantly — but there’s a catch: managing the engineering “complexity budget.”
In a bid to get the Model 3 out the door on time, ideally without the snafus that plagued the Model X, Tesla Motors has hired a longtime Audi executive to serve as vice-president of vehicle production.
The hiring of 22-year Audi veteran Peter Hochholdinger, first reported by Reuters, comes as Tesla ramps up its manufacturing capacity to handle the 400,000 reservations placed on its upcoming $35,000 sedan.
Amid the company’s all-out dash to bring its Fremont, California factory’s production capacity to 500,000 vehicles per year by 2018, a damning report just released by the Bay Area News Group sheds light on the low-cost foreign labor helping to build that capability. (Read More…)
At the Tesla Model 3’s glitzy unveiling, everyone knew the model was a half-baked cake. Now, company founder Elon Musk admits the much-hyped electric sedan still isn’t out of the oven.
Musk said in a recent conference call that the design of the $35,000 Model 3 EV still isn’t finalized, according to Reuters, and the company plans a spending spree to get the model into production on time. (Read More…)
Time’s a wastin’ if you want to impress your friends and neighbors with a gee-whiz Tesla Model 3 anytime in the next three years.
As he’s known to do, Tesla founder Elon Musk took to Twitter last night to warm wannabe owners about the growing wait for his $35,000 electric sedan. If you’re just lining up for a Model 3 now, consider signing a lease for another vehicle while you wait — you probably won’t have to terminate it early. (Read More…)
There’s probably no s’mores or ghost stories, but Tesla founder Elon Musk is still a fan of camping out at his company’s Fremont, California production facility.
Musk admitted to giving his sleeping bag a regular workout during a recent earnings call, during which he outlined his production goals for the upcoming Model 3. The optimistic deadline of July 1, 2017 is now viewed as impossible (due to supply issues), but Musk is optimistic that significant quantities of the $35,000 EV will be out the door before New Year’s Eve.
Musk might need to splurge on an upgraded sleeping bag next summer. (Read More…)
Like a sign next to the egg roll pit at a Chinese buffet, Tesla’s “two Model 3s per person” rule could have been ignored by hungry customers.
Tesla founder Elon Musk had to go on the defensive recently after a financial journalist reserved 20 units of the upcoming 215-mile electric sedan, Automotive News reports.
Tesla is in the game to make money with its $35,000 Model 3, due out in late 2017, but that claim was recently disputed by an industry insider.
Jon Bereisa, an electric vehicle engineering consultant (and former General Motors systems architect responsible for the Chevrolet Volt), said recently that the Model 3 needs to be much more expensive for Tesla to break even, according to StreetInsider (via Electrek). (Read More…)
Nissan is trying to play Tesla’s lengthy Model 3 waiting list to its advantage.
A print ad that landed in the country’s most-read newspapers this morning is playing up the Model 3’s wait times, according to Automotive News, and encouraging EV buyers to go the faster route by buying a Leaf.
There’s nothing subtle about the ad, which would have been green-lit by Nissan’s intimidating sales and marketing head Christian Meunier. Since taking on the role in January, Meunier has laid out an aggressive marketing strategy, meaning the Leaf spot could be the first of many cheeky ads. (Read More…)