Tesla Motors Inc is set to unveil the Model 3, its long-anticipated pitch to middle-class drivers and a key component in founder Elon Musk’s vision to mainstream the electric car. Tesla, until now a purveyor of luxurious all-electric cars with equally luxurious price-tags, plans to sell the Model 3 for us$35,000, half the base price of the flagship Model S.
The Model 3 is scheduled to be unveiled at Tesla’s Design Studio in Hawthorne, California, on Thursday.
Now only putting out 50,000 cars a year, Tesla plans to use the Model 3 to turn itself into a mainstream automaker selling 500,000 electrics annually by 2020.
Analysts said the new car is critical to Tesla at a time when cheap gasoline is challenging all “green” cars, and as rival General Motors Co stakes its claim on the electric vehicle middle market with its new Chevrolet Bolt.
“The Model 3 is really the measure if Tesla is going to make it long-term as a car company,” said Jessica Caldwell, an analyst at the auto industry Web site Edmunds.com. “If they want to bring the EV to the mass market they need the Model 3 to be successful.”
The Model 3 would be about 20 percent shorter than the S, placing it in the same segment as the Audi A4. It would also have four-wheel drive, according to people close to the matter.
The car is expected to be able to travel up to 500km without being recharged, depending on the battery system chosen, and would include modern safety systems, such as autopilot.
The first Model 3s are to be delivered by the end of next year in the US, and 2018 in Europe. Consumers can pre-order the vehicles starting on Thursday for a deposit of US$1,000.
Tesla faces direct competition from the soon to be released 200km range Chevrolet Bolt, which would have a one-year head start on the Model 3 in getting the attention of consumers looking for a moderately priced electric-vehicle.
“There is a cachet and a brand image at Tesla,” Chevrolet electrification division product marketing manager Darin Gesse said, adding “we also know Chevrolet has a brand image. We have shown that our customers have been the most happy in the country. Our battery is solid. We have confidence.”
Cheap gasoline is also a challenge, as more consumers opt for SUVs and other large vehicles.
Last month, only about three percent of the 1.3 million cars sold in the US were “green” cars, according to data from hybridcars.com.
“Gas prices are still down,” Caldwell said. “I think you will get the Tesla fans, but you may not have a massive mainstream market.”
Taiwan will prioritize the development of silicon photonics by taking advantage of its strength in the semiconductor industry to build another shield to protect the local economy, National Development Council (NDC) Minister Paul Liu (劉鏡清) said yesterday. Speaking at a meeting of the legislature’s Economics Committee, Liu said Taiwan already has the artificial intelligence (AI) industry as a shield, after the semiconductor industry, to safeguard the country, and is looking at new unique fields to build more economic shields. While Taiwan will further strengthen its existing shields, over the longer term, the country is determined to focus on such potential segments as
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
RSS