News
Tesla Model 3 configurator in China teases March deliveries, Standard Range in 2nd half of 2019
Tesla has opened its Model 3 configurator for the Chinese market, allowing potential buyers of the electric sedan to design their vehicles. As could be seen in Tesla’s Chinese website, the company is only offering two variants of the Model 3 in China for now — the Long Range AWD and the Performance version. The Mid Range Model 3 RWD, the vehicle’s most affordable variant available today, is currently unavailable in the country.
The Model 3 configurator in China reflects the vehicle’s updated prices, which were rolled out after the Chinese State Council Customs Tariff Commission announced last month that it was suspending the extra 25% tariffs it placed on cars and parts being imported from the United States. With these adjustments in place, the Model 3 Performance, which was initially announced with a price of 689,000 RMB (roughly $100,000), was adjusted to 560,000 RMB (around $81,000). The Long Range AWD variant, initially listed with a price of 580,000 RMB (around $84,000), was reduced to 499,000 RMB (roughly $72,600).
Tesla’s Model 3 configurator in China. (Credit: Tesla)
White seats are currently priced at 9,300 RMB (~$1,300), while paint options such as “China Red” multicoat are priced at 23,100 RMB (~$3,300). In the case of the Model 3 Performance, the Chinese version of the electric vehicle is also equipped with 19″ “Power Wheels,” which feature a design that combines “balanced performance and cruising range.” Enhanced Autopilot is priced at 46,300 RMB (~$6,700) as well, though the company notes that purchasing the driver-assist system after taking delivery would raise its price to 65,000 RMB (~$9,400). The electric car maker also included a reminder about Autopilot’s upcoming features, stating that “the specific functions and specific time of the push will depend on the relevant laws, regulations, and rules of the People’s Republic of China.”
Tesla’s Model 3 page in China notes that first deliveries for the vehicle are expected to begin sometime in March 2019. The company’s Chinese website further teased that the upcoming Standard Range version of the Model 3 would be available sometime in mid-2019. This is quite in line with Tesla’s timeframe for the Standard Range Model 3 in its US configurator, which estimates the electric car’s availability within 3-4 months.
Tesla’s Model 3 configurator in China. (Credit: Tesla)
Chinese reservation holders who order the vehicle could pick up the Model 3 in select locations across the country. So far, Tesla’s website in China lists 14 pick-up locations, from Beijing to Wuhan. The company adds that if a vehicle is purchased without a test drive, buyers can return the electric car within three days of purchase for a refund.
With the Model 3 now saturating North America, Tesla is gearing up to bring the electric car to the international market. That said, even before the Model 3 configurator was opened to the public, Tesla was already making the vehicle attractive to potential buyers in China. The Model 3 Performance’s 560,000 RMB price, for one, massively undercuts the price of fossil fuel-powered rivals such as the BMW M3 and the Mercedes-AMG C 63 Coupe, which cost as much as 998,000 RMB ($162,000) and 1,198,000 RMB ($173,623), respectively. With its superior acceleration, zero emissions, features such as Enhanced Autopilot, and free over-the-air updates, Tesla has all but made the Model 3’s top-tier variant a bang-for-your-buck vehicle in the Asian country.
The start of Model 3 deliveries in China is but the tip of the iceberg for the electric car maker, as Tesla is also constructing Gigafactory 3 in Shanghai. The facility is expected to produce both battery packs and electric vehicles like the Model 3 and the Model Y. Estimates note that Gigafactory 3 would likely commence the production of electric cars sometime in the second half of 2019.
Elon Musk
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
A newly confirmed $20 billion xAI funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune.
Elon Musk moved within reach of an unprecedented $800 billion net worth after private investors sharply increased the valuation of xAI Holdings, his artificial intelligence and social media company.
A newly confirmed $20 billion funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune and widening his lead as the world’s wealthiest individual.
xAI’s valuation jump
Forbes confirmed that xAI Holdings was valued at $250 billion following its $20 billion funding round. That’s more than double the $113 billion valuation Musk cited when he merged his AI startup xAI with social media platform X last year. Musk owned roughly 49% of the combined company, which Forbes estimated was worth about $122 billion after the deal closed.
xAI’s recent valuation increase pushed Musk’s total net worth to approximately $780 billion, as per Forbes’ Real-Time Billionaires List. The jump represented one of the single largest wealth gains ever recorded in a private funding round.
Interestingly enough, xAI’s funding round also boosted the AI startup’s other billionaire investors. Saudi investor Prince Alwaleed Bin Talal Alsaud held an estimated 1.6% stake in xAI worth about $4 billion, so the recent funding round boosted his net worth to $19.4 billion. Twitter co-founder Jack Dorsey and Oracle co-founder Larry Ellison each owned roughly 0.8% stakes that are now valued at about $2.1 billion, increasing their net worths to $6 billion and $241 billion, respectively.
The backbone of Musk’s net worth
Despite xAI’s rapid rise, Musk’s net worth is still primarily anchored by SpaceX and Tesla. SpaceX represents Musk’s single most valuable asset, with his 42% stake in the private space company estimated at roughly $336 billion.
Tesla ranks second among Musk’s holdings, as he owns about 12% of the EV maker’s common stock, which is worth approximately $307 billion.
Over the past year, Musk crossed a series of historic milestones, becoming the first person ever worth $500 billion, $600 billion, and $700 billion. He also widened his lead over the world’s second-richest individual, Larry Page, by more than $500 billion.
News
Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
News
Tesla seen as early winner as Canada reopens door to China-made EVs
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y.
Tesla seems poised to be an early beneficiary of Canada’s decision to reopen imports of Chinese-made electric vehicles, following the removal of a 100% tariff that halted shipments last year.
Thanks to Giga Shanghai’s capability to produce Canadian-spec vehicles, it might only be a matter of time before Tesla is able to export vehicles to Canada from China once more.
Under the new U.S.–Canada trade agreement, Canada will allow up to 49,000 vehicles per year to be imported from China at a 6.1% tariff, with the quota potentially rising to 70,000 units within five years, according to Prime Minister Mark Carney.
Half of the initial quota is reserved for vehicles priced under CAD 35,000, a threshold above current Tesla models, though the electric vehicle maker could still benefit from the rule change, as noted in a Reuters report.
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y. That year, Tesla began shipping vehicles from Shanghai to Canada, contributing to a sharp 460% year-over-year increase in China-built vehicle imports through Vancouver.
When Ottawa imposed a 100% tariff in 2024, however, Tesla halted those shipments and shifted Canadian supply to its U.S. and Berlin factories. With tariffs now reduced, Tesla could quickly resume China-to-Canada exports.
Beyond manufacturing flexibility, Tesla could also benefit from its established retail presence in Canada. The automaker operates 39 stores across Canada, while Chinese brands like BYD and Nio have yet to enter the Canadian market directly. Tesla’s relatively small lineup, which is comprised of four core models plus the Cybertruck, allows it to move faster on marketing and logistics than competitors with broader portfolios.
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
Tesla Cybercab sighting confirms one highly requested feature
