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Tesla offers Model 3 Performance buyers free unlimited Supercharging in latest referral program update
Tesla has updated the details for its latest Referral Program to include Model 3 Performance as a vehicle that’s eligible for incentives when purchased through a referral code. In addition, Tesla has extended free unlimited Supercharging to Model S and Model X purchases made between August 1 and September 16, which also includes Model 3 Performance.
With a new Referral Program in place, owners can give five of their referrals free unlimited Supercharging with the purchase of a Model S, Model X, or Model 3 Performance. Vehicles purchased before September 16 would enjoy the full, unlimited fast-charging perk for the lifetime of the vehicle under its original ownership. After September 16, Tesla would be limiting unlimited Supercharging to one year for the Model S, Model X, and Model 3 Performance. The limits of the new Referral Program also indicate that all Model 3 Performance orders placed before August 1, 2018 would be given unlimited Supercharging, including vehicles not purchased through a referral code. This is the first time Model 3 buyers are being offered free use of the company’s global network of Superchargers.
Tesla has been rolling out a Referral Program for Model 3 owners over the past few months, though some owners were only able to receive their referral codes recently. Ultimately, the updated Referral Program features benefits designed specifically for the growing Model 3 community, but it also comes with a time limit. If the company does follow through and retires the program after September 16, it will only be a matter of time before new owners of Tesla’s vehicles, including its flagship Model S and X, would have to pay for Supercharging.
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- The Tesla Model 3 is establishing itself as a formidable competitor in the US passenger car market. [Credit: Tesla]
Tesla’s introduction of rewards directly linked to the Model 3 Performance appears to be the electric car maker’s latest way of upselling the vehicle to reservation holders. Considering that the company is pushing for profitability this third quarter, every order of the Model 3 Performance, which starts at $64,000, would likely help Tesla become profitable this Q3. The Model 3, after all, has been found to the profitable, with a recent teardown and analysis of the vehicle from Detroit veteran Sandy Munro revealing that the electric car’s Long Range RWD variant exceeds 30% profit. The Model 3 Performance, being priced higher, would most likely give Tesla even more.
Apart from the introduction of free unlimited Supercharging to the Model 3 Performance, Tesla’s updated Referral Program still features much of the same perks as before. The following is a breakdown of referral awards for participating Tesla owners.
1 to 2 Qualifying Referrals
- Signature Black Wall Connector – This item is only available under the Referral Program. Shipping started in July 2018.
- Founders Series Tesla Model S for Kids – This item is a miniature version of the Tesla Model S, complete with working headlights, a sound system, and even a working charge port. Anecdotes from the Tesla community note that the large box of the Model S for Kids fits perfectly at the back of the family sedan with the rear seats folded down.
3 Qualifying Referrals
- Early Access Token for Solar Roof – Customers who opt for this perk would get early access and priority scheduling for Solar Roof installations, which already begun earlier this year. This perk could be given to a friend.
4 Qualifying Referrals
- 21” Arachnid Wheels for Model S or 22” Turbine Wheels for Model X — Wheels designed to improve the performance of the Model S and X.
- One Week with Model S or Model X – The Teslas used for this perk could be used on a road trip. Customers who opt to not use this reward can give this to a friend.
5 Qualifying Referrals
- Tesla Unveiling Invitation – Owners who reach five referral orders will be invited to a future unveiling event. The VIP invitation is valid for the Tesla owner and one guest.
- Founders Series Powerwall 2 – This home battery storage unit features a unique red color scheme.
Tesla is also extending its Race an Electric Semi Truck referral award. Just like before, the person who can get the most number of friends to sign up for Tesla’s newsletter would have the opportunity to race the Tesla Semi around the company’s test track.
Referral rewards for Tesla Solar have also been extended with the updated program. Owners could give their referrals a 5-year extended limited warranty on new solar energy system installations. One to four qualifying referrals would give Tesla owners $400 cash of $750 credit per installed referrals. Five qualifying referrals gives owners a free Founders Series Powerwall 2 battery.
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
