Tesla’s Model 3 and Semi-Truck Coming Soon

Excitement for the long-awaited Model 3 is mounting again, thanks in part to CEO Elon Musk’s tweet and recent news about Tesla’s plan for an electric semi truck. The Tesla Model 3 is the affordable electric car created with the general public in mind. Unveiled in late March 2016, the Model 3 release was postponed to late 2017. The new vehicles are Musk’s way of bringing clean, self-driving cars to the mainstream market.

Model 3

The Model 3 is a four door, midsize sedan with five seats and an impressive battery. This sleek car can go from 0 to 60 in under 6 seconds, and the battery has a capacity of 215 miles. In comparison, the Tesla Model S can go almost 300 miles and the luxury SUV Model X can go 250 miles per charge. The Model 3 cars will have autopilot and all wheel drive features. The interior of the car is as sleek as the other Tesla models, and has a glass roof. The horizontal center console screen measures 15 inches. When the Model 3 was revealed, 115,000 people had already put down their deposits for the car. The cars are expected to be delivered in late 2017 starting in the West Coast and gradually moving east. Current Model S and X owners will have priority, and the base model will be $35,000 before incentives.

Semi-truck

Tesla is also working on a electric semi truck to be released in September 2017. Analysts expect a “relatively short-range for a semi truck ~200 to 300 miles” with battery-swap stations, writes Electrek. A battery-leasing model may arise, making owning and operating a truck cheaper. The size of the truck itself means it can hold a battery pack and the frame of the truck can hold electric motors for the wheels.

Market

Tesla made headlines again in early April when their market value surpassed Ford Motor Co., and then General Motors Co. the following week, to become the most valuable car company in the US. The enthusiasm and vision of clean energy fueled investors and led Tesla to reach this milestone. Tesla is currently the sixth-biggest carmaker by market cap at $50.9 billion. Toyota Motor Corp. is first with a market cap of $172 billion, followed by Daimler AG, Volkswagen AG, BMW AG and Honda.

Source: WIRED, WIRED, Bloomberg

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