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Tesla reveals Model 3 Performance “Dual Motor” badge and new pricing

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Tesla has given the Model 3 Performance and Dual Motor AWD a considerable price cut. Now, a fully-loaded Model 3 Performance costs $72,000 without Autopilot and Full Self-Driving, $6,000 less than its initial price of $78,000. Buyers opting for the non-performance variant Model 3 with dual motors and a Long Range battery pack can expect to pay $53,000, $1000 less than before. Tesla’s pricing for Enhanced Autopilot and Full Self-Driving remains the same at $5,000 and $3000, respectively, though FSD will cost $5,000 when added after delivery.

Overall, Tesla was able to achieve a significant price drop for the Model 3 Performance by making some of its features (now dubbed as a $5,000 Premium Package) optional, such as its 20″ Performance Wheels, Michelin Pilot Sport 4S summer tires, carbon fiber rear spoiler, aluminum alloy pedals, and a top speed boost that enables the electric car to max out at 155 mph. White seats and premium paint choices are also optional at $1,500 each. Without these, the Model 3 Performance, with its 0-60 mph time of 3.5 seconds and 310-mile range, could be bought for $64,000.

Particularly notable in the screenshots above is Tesla’s inclusion of the company’s Premium Connectivity package, an update that the company announced earlier this week.

“All orders placed before July 1 will receive Premium Connectivity with satellite maps with live traffic visualization, in-car streaming media and over-the-air updates via Wi-Fi & cellular,” reads the description for the Select Interior option in Tesla’s Model 3 Design Studio.

An image in the configurator also reveals, for the first time, that Model 3 Performance Dual Motor will have a “Dual Motor” badge with a red underline that Tesla has made synonymous with performance.

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With the price adjustments to the Model 3 Performance, Tesla has managed to make its compact electric car an even more compelling purchase than before. At its original price of $78,000, the Model 3 Performance was already reasonably priced compared to established leaders in the high-performance compact segment, such as the BMW M3, Mercedes AMG C63S, and the Audi RS5, all of which can approach the $100,000 mark when fully loaded (the C63S actually breaches the $100,000 mark). With its adjusted price, the Model 3 Performance, which Elon Musk claimed would be 15% faster around the track than a BMW M3, just became a bargain.

 

The price drop trickled down to the Model 3 Dual Motor AWD as well. Prior to the recent adjustments, the additional motor for the vehicle cost an extra $5,000. Now, the Dual Motor variant costs only $4,000 more than the Long Range RWD version of the electric car. As of date, the delivery window for the Tesla Model 3 Performance is listed at 2-4 months. The Model 3 Dual Motor AWD, on the other hand, is listed with a 3-5-month delivery window, similar to the Long Range RWD variant of the compact electric car.

The Model 3 is Tesla’s first attempt at making a mass-market vehicle. Since starting production of the electric car in the middle of 2017, however, the production of the car has been beset with challenge after challenge, causing the company to miss its targets for the Model 3’s production numbers. As Q2 2018 ends, however, Tesla is closer than ever to attaining its goal of producing 5,000 Model 3 per week by the end of June, thanks in part to a new assembly line in a massive sprung structure on the grounds of the Fremont factory. In a recent tweet, Elon Musk noted that GA3, one of the Model 3 assembly lines inside the Fremont factory, is practically doing something miraculous. Sightings over the past weekend of lots filled to the brim with Model 3 were also spotted by Tesla fans, suggesting that the company has attained a production pace it has never reached before.

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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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Investor's Corner

Tesla Board member and Airbnb co-founder loads up on TSLA ahead of robotaxi launch

Tesla CEO Elon Musk gave a nod of appreciation for the Tesla Board member’s purchase.

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(Credit: Tesla)

Tesla Board member and Airbnb Co-Founder Joe Gebbia has loaded up on TSLA stock (NASDAQ:TSLA). The Board member’s purchase comes just over a month before Tesla is expected to launch an initial robotaxi service in Austin, Texas.

Tesla CEO Elon Musk gave a nod of appreciation for the Tesla Board member in a post on social media.

The TSLA Purchase

As could be seen in a Form 4 submitted to the United States Securities and Exchange Commission (SEC) on Monday, Gebbia purchased about $1.02 million worth of TSLA stock. This was comprised of 4,000 TSLA shares at an average price of $256.308 per share.

Interestingly enough, Gebbia’s purchase represents the first time an insider has purchased TSLA stock in about five years. CEO Elon Musk, in response to a post on social media platform X about the Tesla Board member’s TSLA purchase, gave a nod of appreciation for Gebbia. “Joe rocks,” Musk wrote in his post on X.

Gebbia has served on Tesla’s Board as an independent director since 2022, and he is also a known friend of Elon Musk. He even joined the Trump Administration’s Department of Government Efficiency (DOGE) to help the government optimize its processes.

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Just a Few Weeks Before Robotaxi

The timing of Gebbia’s TSLA stock purchase is quite interesting as the company is expected to launch a dedicated roboatxi service this June in Austin. A recent report from Insider, citing sources reportedly familiar with the matter, claimed that Tesla currently has 300 test operators driving robotaxis around Austin city streets. The publication’s sources also noted that Tesla has an internal deadline of June 1 for the robotaxi service’s rollout, but even a launch near the end of the month would be impressive.

During the Q1 2025 earnings call, Elon Musk explained that the robotaxi service that would be launched in June will feature autonomous rides in Model Y units. He also noted that the robotaxi service would see an expansion to other cities by the end of 2025. “The Teslas that will be fully autonomous in June in Austin are probably Model Ys. So, that is currently on track to be able to do paid rides fully autonomously in Austin in June and then to be in many other cities in the US by the end of this year,” Musk stated. 

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Tesla hints at ‘Model 2’ & next-gen EV designs

Tesla’s Q1 2025 update confirms new models this year, with production tied to existing factory lines. Could it be time for the Model 2 debut?

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(Credit: Tesla)

During its Q1 2025 earnings call, Tesla executives hinted at the much-rumored “Model 2” and other next-gen EV designs.

Tesla slightly addressed whether or not it will be pushing forward with the debut of new models later this year in its latest earnings call. The company’s product development executive, Lars Moravy, shared some details about Tesla’s design process and the upcoming affordable models.

“We’re still planning to release models this year. As with all launches, we’re working through, like, the last minute issues that pop up. We’re knocking them down one by one. At this point, I would say that the ramp might be a little slower than we had hoped initially…But there’s nothing that’s blocking us from starting production within the next, within the timeline laid out in the opening remarks.

“And I will say it’s important to emphasize that, as we’ve said all along, the full utilization of our factories is the primary goal for these new products. And so the flexibility of what we can do within the form factor and, you know, the design of it is really limited to what we can do on our existing lines rather than building new ones. But we’ve been targeting the low cost of ownership. Monthly payment is the biggest differentiator for our vehicles, and that’s why we’re focused on bringing these new models with the, you know, the lowest price, to the market, within the constraints I just highlighted.”

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In January, Tesla’s Chief Financial Officer Vaibhav Taneja teased several new product introductions for this year. There is at least one product that most Tesla supporters and investors are hoping to see: the company’s affordable vehicles, which have been dubbed by the EV community as the “Model 2” or “Model Q.”

Before Tesla’s Robotaxi event last year, many speculated that the company would also unveil its affordable next-gen vehicle. Gene Munster from Deepwater had expected Tesla to release a stripped-down version of the Model 3 as its affordable vehicle during the Robotaxi event. In the end, Tesla unveiled its Robotaxi vehicle and its Robovan design.

It’s been a while since the Robotaxi event, and Tesla has kept mum about its affordable vehicle. Considering its Q1 2025 performance, TSLA investors look forward to catalysts that could boost the stock.

The “Model 2” has been labeled a potential catalyst for Tesla. As such, TSLA investors and supporters have been itching for news about the new affordable vehicle. The main questions surrounding the “Model 2” revolve around its design and price. Based on Moravy’s statement, the “Model 2’s” design will heavily depend on Tesla’s current assembly lines and supply chain structures.

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Tesla regains Piper Sandler’s confidence with Robotaxi plans & Q1 Results

Piper Sandler says Tesla delivered the best-case scenario for bulls. $TSLA has catalysts ahead to silence the bears.

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tesla-model-y-delivery
(Credit: Tesla)

Tesla gained Piper Sandler analyst Alexander Potter’s confidence following its Q1 2025 earnings call. Piper Sandler reaffirmed its Overweight rating and $400 TSLA price target, signaling optimism for the company’s robotaxi and affordable vehicle launches expected this year. The firm’s stance reflects Tesla’s resilience amid market challenges.

Despite expectations of weak Q1 financials, Tesla’s stock edged up in after-hours trading, defying skepticism. Piper Sandler’s Alexander Potter noted that the results met the hopes of Tesla supporters, particularly as the company held firm on its timelines. Potter emphasized that anticipation for robotaxi details and new vehicle launches should keep critics at bay, supporting the $400 target.

“In our preview last week, we predicted that (at best) Q1 would be a non-event. With the stock trading up slightly in the after-hours session, it appears our best-case scenario has materialized. Considering generally weak Q1 financials, we think this is the best result that TSLA bulls could’ve reasonably hoped for.

“In our view, the most important Q1 takeaway is this: Tesla didn’t hedge expectations re: launching Robotaxis or lower-priced vehicles in 1H25. With <2 months until the end of June, investors can look forward to some interesting catalysts in the weeks ahead. In our view, this alone should be enough to keep the bears at bay, at least until we have a better idea re: the details of Tesla’s new products, as well as the scale/scope of the Robotaxi launch,” wrote Potter.

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Wedbush Securities’ Dan Ives, a longtime TSLA bull, echoed Potter’s optimism for Tesla. Ives raised his price target for Tesla stock from $315 to $350 with a BUY rating. His Tesla upgrade came after Elon Musk’s announcement during the Q1 earnings call that he would reduce his involvement with DOGE, signaling a sharper focus on Tesla.

Tesla’s steady Q1 performance and unwavering commitment to its 2025 roadmap, including the Robotaxi launch and lower-priced models, bolster investor confidence. Piper Sandler’s analysis underscores Tesla’s ability to navigate a competitive electric vehicle market while advancing its technological edge. The upcoming Robotaxi launch and affordable vehicle introductions are pivotal, with analysts expecting these initiatives to drive stock value through 2025.

As Tesla prepares for these milestones, its stock movement reflects market trust in Musk’s vision. With Piper Sandler and Wedbush reaffirming bullish outlooks, Tesla’s strategic moves will remain under close scrutiny, positioning the company to capitalize on its innovation pipeline in a dynamic industry landscape.

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