Tesla Motors Inc. (NASDAQ:TSLA) made an important announcement on the details of its upcoming Model 3. Reports claim that the entry-level electric vehicle (EV) will be available in sedan and crossover variants.
Speaking to reporters earlier today at the EIA Energy Conference in Washington DC, Tesla’s Chief Technical Officer Jeffrey B. Straubel confirmed that the Model 3 will be available in two trims— a first for Tesla cars. So far, the luxury EV maker had only offered Model S sedans. However, Tesla’s visionary CEO Elon Musk has reaffirmed numerous times that the Model X will also be available in a gull-winged SUV crossover.
At the conference, Mr. Straubel also hinted that Tesla might be producing a variety of makes in the future. Consumers will have the option of choosing either a convertible Model S, or an estate version of the Model 3. Moreover, Mr. Straubel also said that the company is working on mass production of its electric batteries to drive down costs, which will eventually lead to cheaper EVs.
Elaborating on the company’s battery business, Mr. Straubel said that the lithium-ion batteries “will become the predominant and primary fuel for light vehicles,” and soon replace the traditional fossil fuel combustion engines.
The latest announcements by Tesla are likely to become reality due to a change in its business strategy. The company is aiming to attract more buyers for the Tesla brand, especially the Model 3 version. It seems as if the company is riding hopes on the back of its $35,000 EV to fulfill its pledge of selling 500,000 Tesla cars by 2025. The entry level Model 3, which is expected to debut in 2017, will be able to cover
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