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Tesla China extends five-year zero-interest loan program until Oct 31

Credit: Tesla

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Tesla China has extended its five-year, zero-interest financing program for selected Model 3 and Model Y variants until the end of October 2024. The update comes as the latest extension to the company’s zero-interest loan program, which was launched back in April. 

The extension of the five-year, zero-interest financing plan was posted on the order pages of the Giga Shanghai-made Model 3 sedan and Model Y crossover. As could be seen in the two vehicles’ order pages, the zero-interest loan program is applicable for purchases of the Model 3 and Model Y Rear Wheel Drive (RWD) and Long Range Dual Motor All Wheel Drive (AWD). 

Purchases of the Model 3 and Model Y Performance are not covered by the extended zero-interest financing plan. 

The Giga Shanghai-made Tesla Model 3 RWD starts at RMB 231,900 ($33,050) in China, while the Model 3 Dual Motor AWD starts at RMB 271,900 ($38,780). The top-tier Model 3 Performance costs at RMB 335,900 ($47,900) before options. The Giga Shanghai-made Model Y, on the other hand, starts at RMB 249,900 ($35,640) for its RWD variant, RMB 290,900 ($41,490) for its Dual Motor AWD version, and RMB 354,900 ($50,600) for its Performance trim. 

Estimated delivery dates for the Tesla Model 3 in China are currently listed at 4-6 weeks for all variants of the all-electric sedan. The Tesla Model Y is currently listed with an estimated delivery date of 1-3 weeks for all variants of the all-electric crossover. 

The multiple extensions of Tesla’s five-year, zero-interest financing plan highlight the hyper-competitive nature of China’s automotive market. As noted in a report from CNEV Post, it is generally difficult for electric car makers to take back incentives that have already been offered, as it could cause customers to look at other options. Tesla only has two mainstream cars in China, and the list of Model 3 and Model Y competitors is growing steadily. 

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Tesla China is seeing some momentum in the domestic auto market, with the electric vehicle maker selling 63,456 vehicles in China in August, a new high for the year. In a recent note, Deutsche Bank noted that it is expecting Tesla China to see local deliveries of about 64,000 vehicles in September. The firm also noted that Tesla China has seen about 46,000 domestic deliveries in September’s first three weeks.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla plant manager tips off affordable model production

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Credit: @Gf4Tesla/X

A plant manager at a Tesla factory just tipped off the fact that the company will begin production of an affordable model in the coming weeks, all but confirming that a new car will be unveiled tomorrow.

Tesla has been teasing some kind of product unveiling for October 7 on its social media accounts. It has now dropped two separate indications that a new product is coming on its X account.

Fans have been anticipating two things: either the company’s planned affordable model, which has been codenamed “E41,” or the Roadster, a long-awaited vehicle that Tesla has kept under wraps for much longer than it would likely care to admit.

Tesla all but confirms that affordable Model Y is coming Tuesday

André Thierig, Tesla’s plant manager at the German production plant Gigafactory Berlin, tipped off what is likely coming tomorrow at the product unveiling as he revealed during an internal event today that a light version of the Model Y will begin series production and deliveries “in a few weeks.”

Thierig’s revealing of plans was reported by Handelsblatt, a German media outlet.

The description of a “light version of the Model Y” aligns with what CEO Elon Musk said earlier this year, as well as what we have seen on public roads, both covered and uncovered.

Last week, we finally saw an uncovered version of what the affordable model likely is, as it was cruising around near Gigafactory Texas, just outside of Austin.

Tesla coding shows affordable model details, including potential price

Musk said earlier this year, candidly during an Earnings Call, that the affordable model Tesla planned to release was a Model Y.

“It’s just a Model Y. Let the cat out of the bag there,” Musk said.

The images of what we assumed to be the affordable model lined up with Musk’s candid statement:

Tesla is expected to unveil its affordable model tomorrow during the planned event, which has been teased twice. Pricing and other details are still pending, but the company is expected to reveal this information tomorrow.

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Three things Tesla needs to improve with Full Self-Driving v14 release

These are the three things I’d like to see Tesla Full Self-Driving v14 improve.

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As Tesla plans to release Full Self-Driving version 14 this week after CEO Elon Musk detailed a short delay in its rollout, there are several things that continue to plague what are extremely well-done drives by the suite.

Tesla Full Self-Driving has truly revolutionized the way I travel, and I use it for the majority of my driving. However, it does a few things really poorly, and these issues are consistent across many drives, not just one.

Tesla Full Self-Driving impressions after three weeks of ownership

Musk has called FSD v14 “sentient” and hinted that it would demonstrate drastic improvements from v13. The current version is very good, and it commonly performs some of the more difficult driving tasks well. I have found that it does simple, yet crucial things, somewhat poorly.

These are the three things I’d like to see Tesla Full Self-Driving v14 improve.

Navigation, Routing, and Logical Departure

My biggest complaint is how poorly the navigation system chooses its route of departure. I’ve noticed this specifically from where I Supercharge. The car routinely takes the most illogical route to leave the Supercharger, a path that would require an illegal U-turn to get on the correct route.

I managed to capture this yesterday when leaving the Supercharger to go on a lengthy ride using Full Self-Driving:

You’ll see I overrode the attempt to turn right out of the lot by pushing the turn signal to turn left instead. If you go right, you’ll go around the entire convenience store and end up approaching a traffic light with a “No U-Turn” sign. The car has tried to initiate a U-turn at this light before.

If you’re attempting to get on the highway, you simply have to leave the convenience store on a different route (the one I made the vehicle go in).

It then attempted to enter the right lane when the car needed to remain in the left lane to turn left and access the highway. I manually took over and then reactivated Full Self-Driving when it was in the correct lane.

To achieve Unsupervised Full Self-Driving, such as navigating out of a parking lot and taking the logical route, while also avoiding illegal maneuvers, is incredibly crucial.

Too Much Time in the Left Lane on the Highway

It is illegal to cruise in the left lane on highways in all 50 U.S. states, although certain states enforce it more than others. Colorado, for example, has a law that makes it illegal to drive in the left lane on highways with a speed limit of 65 MPH or greater unless you are passing.

In Florida, it is generally prohibited to use the left lane unless you are passing a slower vehicle.

In Pennsylvania, where I live, cruising in the left lane is illegal on limited-access highways with two or more lanes. Left lanes are designed for passing, while right lanes are intended for cruising.

Full Self-Driving, especially on the “Hurry” drive mode, which drives most realistically, cruises in the left lane, making it in violation of these cruising laws. There are many instances when it has a drastic amount of space between cars in the right lane, and it simply chooses to stay in the left lane:

The clip above is nearly 12 minutes in length without being sped up. In real-time, it had plenty of opportunities to get over and cruise in the left lane. It did not do this until the end of the video.

Tesla should implement a “Preferred Highway Cruising Lane” option for two and three-lane highways, allowing drivers to choose the lane that FSD cruises in.

It also tends to pass vehicles in the slow lane at a speed that is only a mile an hour or two higher than that other car.

This holds up traffic in the left lane; if it is going to overtake a vehicle in the right lane, it needs to do it faster and with more assertiveness. It should not take more than 5-10 seconds to pass a car. Anything longer is disrupting the flow of highway traffic.

Parking

Full Self-Driving does a great job of getting you to your destination, but parking automatically once you’re there has been a pain point.

As I was arriving at my destination, it pulled in directly on top of the line separating two parking spots. It does this frequently when I arrive at my house as well.

Here’s what it looked like yesterday:

Parking is one of the easier tasks Full Self-Driving performs, and Autopark does extremely well when the driver manually chooses the spot. I use Autopark on an almost daily basis.

However, if I do not assist the vehicle in choosing a spot, its performance pulling into spaces is pretty lackluster.

With a lot of hype surrounding v14, Tesla has built up considerable anticipation among owners who want to see FSD perform the easy tasks well. As of now, I believe it does the harder things better than the easy things.

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Elon Musk teases previously unknown Tesla Optimus capability

Elon Musk revealed over the weekend that the humanoid robot should be able to utilize Tesla’s dataset for Full Self-Driving (FSD) to operate cars not manufactured by Tesla.

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Credit: @heydave7/X

Elon Musk revealed a new capability that Tesla Optimus should have, and it is one that will surely surprise many people, as it falls outside the CEO’s scope of his several companies.

Tesla Optimus is likely going to be the biggest product the company ever develops, and Musk has even predicted that it could make up about 80 percent of the company’s value in the coming years.

Teasing the potential to eliminate any trivial and monotonous tasks from human life, Optimus surely has its appeal.

However, Musk revealed over the weekend that the humanoid robot should be able to utilize Tesla’s dataset for Full Self-Driving (FSD) to operate cars not manufactured by Tesla:

FSD would essentially translate from operation in Tesla vehicles from a driverless perspective to Optimus, allowing FSD to basically be present in any vehicle ever made. Optimus could be similar to a personal chauffeur, as well as an assistant.

Optimus has significant hype behind it, as Tesla has been meticulously refining its capabilities. Along with Musk’s and other executives’ comments about its potential, it’s clear that there is genuine excitement internally.

This past weekend, the company continued to stoke hype behind Optimus by showing a new video of the humanoid robot learning Kung Fu and training with a teacher:

Tesla plans to launch its Gen 3 version of Optimus in the coming months, and although we saw a new-look robot just last month, thanks to a video from Salesforce CEO and Musk’s friend Marc Benioff, we have been told that this was not a look at the company’s new iteration.

Instead, Gen 3’s true design remains a mystery for the general public, but with the improvements between the first two iterations already displayed, we are sure the newest version will be something special.

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