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The much anticipated Tesla Model 3 was revealed tonight in a relatively short presentation. It was much anticipated because people have been waiting for the disruptive car company to finally produce a compelling car for the general public and this is it. Expected to cost $35,000 before tax incentives, the Tesla Model 3 truly becomes an affordable electric car, with the cache of the Tesla brand and the convenience of the Tesla Supercharger network, which will continue to expand. Tesla expects the network to double by next year.
Tesla models leading up to the Model 3 were amazing but expensive. The Model S costs upwards of $70,000 and the Model X can put you back $140,000 when fully equipped. These cars were designed to be expensive and for a limited target consumer. By selling these high priced cars, Tesla was able to fund the creation of the Model 3 while improving their mass production process and lowering costs.
This also gave Tesla time to create their own battery production operation, the Gigafactory, to reduce production costs through streamlining the process and economies of scale. Currently, Tesla is the largest consumer of batteries in the world, which is astounding considering Apple and Samsung have millions of battery reliant products worldwide. Elon Musk showed updated footage of the factory and said it is currently functional even though it is also under construction.
The large and increasing demand for ...