Connect with us

News

Tesla Model 3 Power Sports wheel with aero cover makes grand debut in China as test drives begin

Model 3 Performance Power Sports Wheels on display in China. | Credit: Twitter/@ShanghaiJayin

Published

on

Test drives of the Tesla Performance Model 3 opened yesterday in Shanghai and, as to be expected, pictures of the Chinese variation of the electric car have surfaced online. In photos shared by Twitter user JayinShangahai, in-person glimpses have been captured of the vehicle, including the new 19-inch “Power Sports” wheels, both with and without their aero covers. The Model 3 wheel variation was first spotted in Tesla’s online vehicle configurator for the Chinese market but isn’t yet available in the US.

The Power Sports wheels are said to increase range efficiency and, when used with their aerodynamic hubcaps, “better adapt to different road conditions”, per their description on Tesla’s Chinese Model 3 Design Studio. A similar performance wheel variation is offered in the US market, however the size and appearance are slightly different. The Aero Wheels offered for the North American Model 3 are 18″ as opposed to the 19″ size of the Power Sports version, and the overall design has been reworked from a 5-hole, black/grey style to a 7-hole, silver/grey style. It should also be noted that the Power Sports wheel is only offered on the Model 3 Performance – the Long Range AWD variation will come with either the Aero Wheels or Sports Wheels styles found in North American versions.

The first batch of Tesla’s Performance Model 3 China edition vehicles arrived about a week ago in Hong Kong. Per the online configurator, delivery of the Dual Motor Model 3 variation is supposed to begin sometime in March, and an additional Standard Range version is slated for mid-2019, completing the full Tesla lineup available to the company’s Chinese customers. The still-unreleased Model Y crossover SUV was originally thought to be part of the all-electric car maker’s coming production plans in China, but in yesterday’s 2018 Full Year Report, Tesla indicated that Gigafactory 1 in Sparks, Nevada would likely be the initial manufacturing site.

Tesla is likely planning on deliveries into China being short-lived in favor of in-country production at its recently ground broken Gigafactory 3 in Shanghai, primarily as a matter of financial sense. An extra 25% import tariff is placed on cars originating in the US, significantly increasing the price of any American vehicles brought into the country. China recently agreed to suspend the extra tariff; however, the suspension is scheduled to end on April 1, 2019. Tesla adjusted their vehicle pricing accordingly with the hope of using the lower tariff advantage to ramp up sales, a plan which was successful. Even still, though, general import taxes remain in force, meaning the electric vehicle manufacturer would need to further reduce tax barriers to truly expand and compete throughout China. Manufacturing Tesla’s cars in Shanghai would accomplish this.

Advertisement

The Tesla Model 3 Performance is expected to become a strong contender in China’s high-performance sedan market. With a 0-60 mph acceleration time of 3.5 seconds offered at a rival-undercutting price of 560,000 RMB (around $81,000), the value of the vehicle overall speaks for itself. Once Gigafactory 3 is up and running – initial construction is expected to be completed this summer – it is anticipated to reach high volume production shortly thereafter and enter the Chinese market as a true local competitor for other manufacturers doing business in the country.

Advertisement

Accidental computer geek, fascinated by most history and the multiplanetary future on its way. Quite keen on the democratization of space. | It's pronounced day-sha, but I answer to almost any variation thereof.

Advertisement
Comments

News

Tesla ends Full Self-Driving purchase option in the U.S.

In January, Musk announced that Tesla would remove the ability to purchase the suite outright for $8,000. This would give the vehicle Full Self-Driving for its entire lifespan, but Tesla intended to move away from it, for several reasons, one being that a tranche in the CEO’s pay package requires 10 million active subscriptions of FSD.

Published

on

Credit: Tesla

Tesla has officially ended the option to purchase the Full Self-Driving suite outright, a move that was announced for the United States market in January by CEO Elon Musk.

The driver assistance suite is now exclusively available in the U.S. as a subscription, which is currently priced at $99 per month.

Tesla moved away from the outright purchase option in an effort to move more people to the subscription program, but there are concerns over its current price and the potential for it to rise.

In January, Musk announced that Tesla would remove the ability to purchase the suite outright for $8,000. This would give the vehicle Full Self-Driving for its entire lifespan, but Tesla intended to move away from it, for several reasons, one being that a tranche in the CEO’s pay package requires 10 million active subscriptions of FSD.

Advertisement

Although Tesla moved back the deadline in other countries, it has now taken effect in the U.S. on Sunday morning. Tesla updated its website to reflect this:

There are still some concerns regarding its price, as $99 per month is not where many consumers are hoping to see the subscription price stay.

Advertisement

Musk has said that as capabilities improve, the price will go up, but it seems unlikely that 10 million drivers will want to pay an extra $100 every month for the capability, even if it is extremely useful.

Instead, many owners and fans of the company are calling for Tesla to offer a different type of pricing platform. This includes a tiered-system that would let owners pick and choose the features they would want for varying prices, or even a daily, weekly, monthly, and annual pricing option, which would incentivize longer-term purchasing.

Although Musk and other Tesla are aware of FSD’s capabilities and state is is worth much more than its current price, there could be some merit in the idea of offering a price for Supervised FSD and another price for Unsupervised FSD when it becomes available.

Advertisement
Continue Reading

Elon Musk

Musk bankers looking to trim xAI debt after SpaceX merger: report

xAI has built up $18 billion in debt over the past few years, with some of this being attributed to the purchase of social media platform Twitter (now X) and the creation of the AI development company. A new financing deal would help trim some of the financial burden that is currently present ahead of the plan to take SpaceX public sometime this year.

Published

on

Credit: SpaceX

Elon Musk’s bankers are looking to trim the debt that xAI has taken on over the past few years, following the company’s merger with SpaceX, a new report from Bloomberg says.

xAI has built up $18 billion in debt over the past few years, with some of this being attributed to the purchase of social media platform Twitter (now X) and the creation of the AI development company. Bankers are trying to create some kind of financing plan that would trim “some of the heavy interest costs” that come with the debt.

The financing deal would help trim some of the financial burden that is currently present ahead of the plan to take SpaceX public sometime this year. Musk has essentially confirmed that SpaceX would be heading toward an IPO last month.

SpaceX IPO is coming, CEO Elon Musk confirms

Advertisement

The report indicates that Morgan Stanley is expected to take the leading role in any financing plan, citing people familiar with the matter. Morgan Stanley, along with Goldman Sachs, Bank of America, and JPMorgan Chase & Co., are all expected to be in the lineup of banks leading SpaceX’s potential IPO.

Since Musk acquired X, he has also had what Bloomberg says is a “mixed track record with debt markets.” Since purchasing X a few years ago with a $12.5 billion financing package, X pays “tens of millions in interest payments every month.”

That debt is held by Bank of America, Barclays, Mitsubishi, UFJ Financial, BNP Paribas SA, Mizuho, and Société Générale SA.

X merged with xAI last March, which brought the valuation to $45 billion, including the debt.

Advertisement

SpaceX announced the merger with xAI earlier this month, a major move in Musk’s plan to alleviate Earth of necessary data centers and replace them with orbital options that will be lower cost:

“In the long term, space-based AI is obviously the only way to scale. To harness even a millionth of our Sun’s energy would require over a million times more energy than our civilization currently uses! The only logical solution, therefore, is to transport these resource-intensive efforts to a location with vast power and space. I mean, space is called “space” for a reason.”

The merger has many advantages, but one of the most crucial is that it positions the now-merged companies to fund broader goals, fueled by revenue from the Starlink expansion, potential IPO, and AI-driven applications that could accelerate the development of lunar bases.

Advertisement
Continue Reading

News

Tesla pushes Full Self-Driving outright purchasing option back in one market

Tesla announced last month that it would eliminate the ability to purchase the Full Self-Driving software outright, instead opting for a subscription-only program, which will require users to pay monthly.

Published

on

Credit: Tesla

Tesla has pushed the opportunity to purchase the Full Self-Driving suite outright in one market: Australia.

The date remains February 14 in North America, but Tesla has pushed the date back to March 31, 2026, in Australia.

Tesla announced last month that it would eliminate the ability to purchase the Full Self-Driving software outright, instead opting for a subscription-only program, which will require users to pay monthly.

If you have already purchased the suite outright, you will not be required to subscribe once again, but once the outright purchase option is gone, drivers will be required to pay the monthly fee.

The reason for the adjustment is likely due to the short period of time the Full Self-Driving suite has been available in the country. In North America, it has been available for years.

Advertisement

Tesla hits major milestone with Full Self-Driving subscriptions

However, Tesla just launched it just last year in Australia.

Full Self-Driving is currently available in seven countries: the United States, Canada, China, Mexico, Australia, New Zealand, and South Korea.

The company has worked extensively for the past few years to launch the suite in Europe. It has not made it quite yet, but Tesla hopes to get it launched by the end of this year.

Advertisement

In North America, Tesla is only giving customers one more day to buy the suite outright before they will be committed to the subscription-based option for good.

The price is expected to go up as the capabilities improve, but there are no indications as to when Tesla will be doing that, nor what type of offering it plans to roll out for owners.

Continue Reading