Tesla Model 3: referral codes, prices, range, reviews and UK release
Elon Musk hints that the budget EV’s arrival in Europe isn’t far off
19 May
Tesla has released updates regarding the total figure of Model 3 cars customers have currently reserved with the company, downgrading on the "some 400,000" figure touted by CEO Elon Musk last week with a revised queue.
According to Electrek, the company disclosed the updated list in a recent SEC filing outlining its plans to raise $1.4 billion (£957 million) to finance the Model 3's ramped up production schedule. Tesla will sell around $2 billion (£1.4 billion) of common stocks – $600 million (£410 million) from Musk himself, leaving the firm with the $1.4 billion (£957 million) figure to invest in Model 3 production.
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In the filing, the company confirms that as of 15 May, it held 373,000 Model 3 reservations, the number possibly trimmed down for a number of reasons.
First, Tesla has confirmed that since pre-order books for the car opened on 31 March, around 8,000 prospective customers who signalled their interested by placing a deposit have now cancelled their reservations.
Alongside this, the company has struck 4,200 names from the list, under suspicion that some of the orders received are duplicates placed by speculators. Presently, each customer is limited to placing an order for two cars maximum, each deposit costing £1,000.
The automobile manufacturer believes it is still on track to achieve first deliveries of the car come late 2017, as well as volume production – Musk previously said that Tesla would be able to build between 100,000-200,000 Model 3s next year providing things go to plan.
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Tesla says it could easily increase the number of pre-orders for the car if it wants to, given that the Model 3 has obtained its current level of interest without any advertising and without revealing the full list of features it will come with when it is released next year. However, the company would rather actively pursue Model S and X sales over attracting more Model 3 reservations.
Tesla Model 3: Final design in 'six to nine weeks'
11 May
Tesla has established a timeframe for the final design of the firm's upcoming "affordable" Model 3, with chief executive Elon Musk acknowledging that the car's design is not yet complete, despite plans to begin manufacturing within the next 18 months.
According to Automotive News, Musk told a conference call with analysts that Tesla is aiming to sign off the final design and engineering decisions within the next six to nine weeks.
However, there's still no information as to when the company will reveal the finished product. Tesla unveiled the car on 31 March, but that was only "part one". "Part two" remains unscheduled.
Tesla's production plan for the Model 3 is ambitious and the firm recently set itself an "impossible date" of 1 July 2017 as a deadline for all internal and supplier-based components to be ready.
Musk added at the time that Tesla could manufacture as many as 100,000 to 200,000 Model 3s next year. Current pre-orders stand at around 400,000.
As such, Electrek has posted the "key assumptions" on which the Model 3 build is based. The plan relies hugely on Tesla's ability to begin production of lithium-ion battery packs at its new Nevada based gigafactory and how the company can attract top engineering talent, as well as how it manages its supplier parts and assembly line programmes.
"Bringing the vehicle to market in volume production in less than 18 months after finalizing the design would an impressive accomplishment," it adds.
Tesla's other cars have been hit by pre-production delays before and the Model 3 is looking like an "interesting vehicle program to follow".
Tesla Model 3: Up to 200,000 to be made next year
05 May
Since the successful reveal of the Tesla Model 3, the biggest question posed by sceptics is how the company will meet demand.
In the past, Tesla has struggled with new releases – the Model X SUV has had a difficult birth - and delays and teething issues are a common theme. With 400,000 pre-order deposits already taken for the Model 3, which is set to be on driveways towards the end of next year, the company faces its biggest production challenge yet.
As a result, the company was having a rethink, chief executive Elon Musk said after the Model 3's reveal.
Now he's announced that Tesla will accelerate production five-fold with the ambition of being able to build 500,000 cars a year by 2018.
According to Electrek, Tesla's new plan is a modification of the company's earlier strategy – it had planned to reach that number by 2020 – and while the a decision has been taken as a result of Model 3 orders, the Model S and Model X will also form a part of the manufacturing surge.
Model S orders are up 45 per cent on last year, probably riding on the coat-tails of Model 3 hype.
Forbes adds more details. Tesla intends to adjust plans for its new battery factory in Nevada in order to accommodate the two-year acceleration, but has yet to provide specific details. The "gigafactory" will produce its first cells by the end of this year.
The company has spelt out more specific details regarding Model 3 production, though. The car should be ready for production by 1 July 2017 and the company plans to build between 100,000-200,000 units next year.
However, with 400,000 orders, most customers will not get their cars until 2018.
Those not wanting their Model 3 any later should act now, says Musk, hinting that orders will soon creep into 2019.
Tesla Model 3: New signings hint strongly at tech-laden interior
18 April
Almost 400,000 people have put down a deposit on the 2017 Tesla Model 3, even though the company has only staged "part one" of the car's reveal, which focussed mostly on its exterior design as well as some technical details.
"Part two" hasn't been scheduled yet, but the hiring of two new employees at the company hints at what to expect.
Last month's launch featured a car noted for its rather sparse interior, the only significant feature being the large, landscape display dominating the dashboard.
The lack of a traditional instrument cluster raised eyebrows, but Tesla chief executive Elon Musk took to Twitter to alleviate concerns, saying it would all "make sense" at the next reveal.
Now there are new developments on this front. According to Alphr, Tesla recently hired Milan Kovac, formerly of augmented reality firm Skully Systems, who is known for creating a motorbike helmet featuring a built-in, virtual head-up display (HUD).
This, combined with the blank canvas interior and dashboard Tesla has shown so far, strongly suggests the Model 3 will have a HUD-focussed interface.
BGR picks up the story, too. It notes that Kovac's Linkedin page currently lists him as working on Autopilot technology for Tesla. At first glance, that may not suggest he's designing elements of the car's interior, but the site says it makes sense – lacking the digital dashboard of the Tesla Model S, the Model 3 will "likely have to display pertinent Autopilot-related information on a HUD".
In addition, Kovac has worked at SoftKinetic developing gesture control systems. The company provided BMW with the tech for its 7 Series, so could elements be heading the Model 3's way, too?
Tesla has also hired the man responsible for kitting out the insides of Porsche's Mission E concept – a car with an interior packed with tech and noted for its large holographic display extending across the dashboard.
Tesla Model 3: Orders approach 400,000 cars
15 April
Orders for the Tesla Model 3 are still coming, two weeks on from its reveal.
Tesla vice president Diarmuid O'Connell has revealed that pre-orders are now "something approaching 400,000" units, says Electrek.
Speaking during a presentation at the AVERE E-mobility Conference in Amsterdam, O'Connell added that this was "the car the company was really set up to build".
The rate at which orders were coming in had "exceeded all" of Tesla's expectations, he continued, and the cash injection meant the company was confident it could deliver on its promises.
Questions over whether Tesla can turn orders into cars on driveways by the end of next year have grown since the company started revealing the scale of demand for the Model 3. Many are sceptical - a doubt strengthened by the delays and supply niggles which have beset the production of some of Tesla's other cars, especially its Model X SUV.
But O'Donnell said Tesla was confident it could take the right steps to build and deliver the Model 3 without problems. "The real success will be delivering a great product at the volumes that we believe are possible and necessary," he said.
Quoting chief executive Elon Musk, O'Donnell added that Tesla has a plan to ramp up production and turned the past delivery hiccups into a positive, saying the experience of building the Model S and Model X would make the Model 3 production easier.
There was also news of Tesla's next cars – the company may expand its line-up after the Model 3 with the introduction of an all-electric pickup truck.
Forbes reports that despite the Model 3 receiving praise from key rivals such as Nissan and Mercedes-Benz, one competitor has taken a swipe at the car.
It says that an executive at General Motors claimed their own offering, the Chevrolet Volt, which is due to hit roads this year, would be the first affordable long-range electric car to market and that "it's not necessary to put down $1,000 and wait until 2018 or sometime after that" – a reference to the Model 3 and its waiting time.
Tesla Model 3: Who is buying Elon Musk's new car?
13 April
Tesla's "affordable" Model 3 won't be on the roads until late 2017, yet more than 325,000 would-be owners have stumped up its £1,000 pre-order deposit.
Last month's reveal was only "part one" of the car's staggered introduction, with "part two" yet to be confirmed by Tesla. Key details have emerged, however, such as its 215-mile range and what the car should look like – enough information to drive the huge pre-order figures and big enough for Tesla to proclaim this is its most successful product launch ever.
As such, many have hailed the £30,000 Model 3 as the car that will finally bring electric motoring into the mainstream.
However, not everyone is convinced.
According to the Economic Times, while demand for the Model 3 is high, the clientele overwhelmingly consists of "tech-savvy, environmentally conscious early adopters, who see Tesla as an innovative brand that meets their needs".
The car's specs are important in attracting buyers, but the brand's "tech image" is a huge pull factor for customers, adds the paper, pointing out chief executive Elon Musk's successes in rockets with SpaceX and other internet-age interests, such as PayPal, against the traditional image of other carmakers.
And while they are now scrambling to churn out electric vehicles with specs matching that of the Model 3, they "won't attract a frenzy of buyers" because they don't have Tesla's tech-based outlook.
On the flipside, the article says that shifting sales from the tech savvy crowd to "regular folks" will be quite an effort and winning over enthusiasts already sold on the technology is "fundamentally different" to convincing more mainstream consumers.
Sci-Tech Today says that electric car sales, particularly in Tesla's native US, remain a "drop in the bucket" and could be for some time, depending on how quickly battery technology progresses.
Tesla has to "attain full momentum" with the Model 3, says Auto World News, and any hitches with the launch, such as the delays which have plagued the firm's other offerings, could "eradicate the positive forecast and solid future" of the new car and its large fan base – hampering any hopes of a cross into the mainstream.
Tesla Model 3: Orders top 325,000 as car is caught on camera
11 April
More than 325,000 pre-orders were taken for the Tesla Model 3 in the week following "part one" of its reveal.
Chief executive Elon Musk unveiled the new electric car at an event in Los Angeles on 31 March and has since repeatedly taken to Twitter to share updates on how it has been received. His latest post said that should all pre-orders translate to sales, Tesla will shift $14bn (£9.9bn) worth of Model 3s over the next few years.
Tesla has proudly trumpeted that the Model 3 launch has kickstarted electric cars as a mainstream option and been "the single biggest one-week launch of any product ever" – hyperbole typical of the chief executive, says Brand Channel.
Forbes is sceptical, however, noting that the company has a rocky road ahead of it to successfully deliver on the mass hysteria surrounding the car. Should the company hit production problems, it says, its new customers may be less tolerant of delays than its more affluent Model S and X consumer base.
Nevertheless, Forbes says Tesla can be proud of the organic spread of interest in the vehicle, saying that the car's popularity has been driven by "a true grassroots effort" – no advertisements or endorsements have marked its launch.
According to Carscoops, the Model 3 "broke the internet without even being the finished item" and considering that most prospective buyers won't receive their cars for two years, "even that term is an understatement".
The site has also unearthed one of the first videos of the car in action – a silver Model 3 out on the streets during filming for what's likely to be Tesla promotional material. [[{"type":"media","view_mode":"content_original","fid":"93316","attributes":{"class":"media-image"}}]]
It is still unknown when "part two" of the reveal will take place, but it is likely that some design revisions could happen between now and then, especially inside the cabin.