What the Tesla Model 3 Means for the EV Industry

 

Tesla Model 3 and the EV Industry

Electric vehicles are continuing to gain momentum and grow their market share, especially as EVs improve their specs and provide consumers with a performance that more closely matches standard fuel-based vehicles.

Leading the charge is the Tesla Model 3, which is just now starting to be delivered, though in small numbers. The Tesla Model 3 is truly an inflection point in the quest for EV supremacy.

 

 

Here’s why:

It’ll Be the First Mass-Produced EV Vehicle

Not only is the Model 3 Tesla’s first mass-produced vehicle, but it also happens to be the first mass-produced electric vehicle in the world. This was no small feat, and it required billions of dollars to be invested in a factory, not to mention years of R&D, that’s capable of creating and assembling such a vehicle.

The main reason why the Tesla Model 3 will be able to be mass produced is because of the Tesla Gigafactory. Located right outside of Sparks, Nevada, the Tesla Gigafactory was created, according to Tesla’s website, because, “To achieve its planned production rate of 500,000 cars per year by 2018, Tesla alone will require today’s entire worldwide supply of lithium-ion batteries (see: https://www.tesla.com/gigafactory).”

With over 450,000 deposits in place for the Model 3, Tesla’ goal is to be able to produce at least 10,000 units perk week in 2018.

In comparison, Toyota and BMW hope to have the capabilities for the mass-production of their respective EV offerings by 2020 at the earliest.


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It’s Affordable Without Being Bare-Boned

The Tesla Model 3, which starts at $35,000, is Tesla’s first affordable electric vehicle, unlike the Model S and the Model X. This is even before the federal tax credit of $7,500 and any state credits are factored in.

 

 

Consumers can expect the Model 3 to be the most advanced EV available for the price in comparison to its competitors. Some of the features that it’ll come with in its base model are:

  • 215 miles per charge;
  • 0 to 60 mph in 5.6 seconds;
  • The use of your smartphone as a key to your vehicle;
  • A centrally-mounted 15-inch touchscreen dashboard display;
  • Full autopilot-capable hardware;
  • Ability to be used with Tesla’s Supercharger system throughout the country;
  • A cutting-edge design, as well as an aerodynamic design to increase efficiency.

All of these features can be upgraded as well. For example, the premium trim version of the Model 3 has 310 miles per charge and can accelerate from 0 to 60 mph in just 5.1 seconds.

Some of the main competitors to the Model 3, such as the Nissan Leaf and the Chevy Bolt, lack many of these advanced safety features and autopilot features that come with the Model 3.

Tesla Must Prove That It Can Meet Their Production Goals

One of the big “what-ifs,” even with all of the positives of the Model 3, is Tesla’s ability to meet their production targets. So far, they haven’t been able to, though it’s certainly not for a lack of trying. But if they can, 2018 is shaping up to be a revolutionary year for EVs, as the first mass-produced Model 3 starts to get into the hands of more and more drivers.

To find out more information about the Model 3, you can visit Tesla’s website.

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