Why The Excitement Around Tesla Model 3?


The Tesla Model 3 is expected to be one of the most significant new car introductions for 2019. Let’s examine why.


What Will The Tesla Model 3 Cost?


The Tesla Model 3 heralds the introduction of a more affordable, ‘mass market’ electric vehicle model from the iconic Tesla range. Incumbent models, like the Model S start at £71,700 but can easily cross £100,000 after options and extras. In comparison, the Model 3 is expected to start around £33,000 according to Tesla Chief Executive, Elon Musk. However, according to the Sunday Times Driving, costs will be closer to £50,000 and may exceed £60,000 for the performance variants.


When Was The Model 3 First Introduced And Where?


30 production models of the Tesla Model 3 were first unveiled in the United States in July 2017 by Elon Musk. However, the model was announced to the public by Musk in March 2016.


What Is The Model 3’s Range Expected To Be? And How Does This Compare To The Other Tesla Models?


According to Tesla, the Model 3, its compact electric sedan, will have a range of 220 miles. The AWD Long range model will achieve 338 miles on a WLTP cycle. The Model S, the flagship Tesla model has a NEDC range of 304 miles, and the Model X, with its well recognised Falcon Wing doors, is just slightly higher than that at 315 miles.


When Will Deliveries Of The Model 3 Commence In The UK?


The Model 3’s release date is expected to be from June 2019. According to Elon Musk, the Model 3 order page is expected to go live in early May 2019, with deliveries expected to be commence in the second half of 2019.


Have The Tesla Model 3 Reviews Been Good?


Top Gear has given an overall verdict of 8 out of 10. It is impressed by the technology, space, acceleration and handling, however does warn against long waiting list and constant attention.

The Sunday Times Driving, awards the the EV 4 out of 5 stars, with pros that include impressive range, space and fun to drive, but with concern about the pricing.


Does The Model 3 Qualify For The UK Low-Emission Vehicle Plug-In Grant?


Yes. The Model 3 is expected to qualify for the UK plug-in grant, which will pay for 35% of the purchase price, up to a maximum of £3,500.

As of end April, Model 3 has yet to be listed on the UK government website for vehicles eligible for the plug-in grant. The Tesla Model S and X are listed, with the Model 3 expected to be added.


Where Can I See Tesla Electric Cars In The UK?


Tesla has a number of stores in the UK, listed on the Tesla website. The Model 3 demonstration models are now on show in the UK.


How Many Model 3 Electric Cars Have Been Manufactured So Far?


According to Bloomberg’s TeslaModel3Tracker, its best estimate is that 242,571 Tesla Model 3 electric cars have been manufactured to date.


Where Are Tesla EV’s Manufactured?

Tesla electric cars are manufactured at the 370 acres, 5.3 million square feet sprawling Tesla manufacturing facility in Freemont, California. Tesla has received approval to further extend the facility to 10 million square feet.


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Author

Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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