Tesla CEO Reveals New Model 3 Options
Tesla CEO Elon Musk has announced new options for the Tesla Model 3 via Twitter. His tweets revealed preliminary specs and pricing for dual-motor all-wheel-drive and performance versions of the vehicle. The new options should be available by July.
Tesla’s dual-motor vehicles will have a motor in the front & a motor in the rear. One motor will be optimized for power while the other will be optimized for range. Even if one motor breaks down, the car can continue operating on the other, preventing incidents where drivers get stuck on side of road in potentially unsafe conditions.
A non-performance Model 3 with the dual-motor setup will be able to go 0 to 60 in 4.5 seconds with a top speed of 140 mph. The vehicle will have a range of 310 miles, the same range as the current big-battery Model 3 equipped with a single motor. On a normal Model 3, the dual-motor option will come at a cost of $5,000.
A “performance” Model 3 with dual-motor, all-wheel drive was also announced. This vehicle will have the ability to go 0 to 60 miles per hour in 3.5 seconds, with a 155 mph top speed. The range will remain the same at 310 miles. Additional model features will include 20-inch Performance wheels, a black-and-white interior and carbon fiber spoiler. Musk’s tweet said the performance-level trim would cost $78,000 including “all options, wheels, paint, etc. (apart from Autopilot).”
In 2016, Tesla announced similar upgrades for the P100D versions of the Model S and Model X. Upgrading those vehicles came at a cost of $10,000. Musk did not provide any further details about when deliveries for an entry-level $35,000 Model 3 would begin.
The one-year anniversary of the Model 3’s launch approaches and Tesla continues to struggle to reach previously promised production levels. The company has reported disappointing Model 3 production numbers quarter after quarter until recently, when the company started being able to push out a significant number of cars per week. Musk recently announced that Tesla will be hosting hackathons with a focus towards solving the Model 3 production issues.
After so many disappointing quarters, investors are wary of Musk’s often overly-optimistic projections. The company’s stock price has taken a tumble over the last 10 days, falling from a near-term high of $306.85 on May 9 to $276.82. The stock has lost 28.1 percent since its all-time high on September 28, 2017.