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First look at Tesla Model 3 right-hand drive deliveries to UK customers
Tesla customers in the UK have begun taking delivery of their Model 3 right-hand drive (RHD) vehicles after a two year-long wait since the all-electric midsize sedan debuted in the US.
The Model 3 RHD variants were first spotted on delivery trucks outside of London earlier this week by a few eagle-eyed UK residents. CEO Elon Musk later acknowledged the cars being towed were intended for customers via Twitter after photos made the rounds on news outlets and social media. “Model 3 arriving in UK,” he confirmed, citing an article featuring the images.
Tesla’s online configurator was opened to UK residents on May 1, as originally promised by Musk, and it appears that the first RHD deliveries went out customers whose orders were placed in the days immediately following. Images shared of a newly-delivered Deep Blue Metallic Model 3 were posted by a UK customer who previously confirmed their order on May 2nd. The same early bird customers also appear to be those who received a text message from Tesla last week promising a June 20th delivery date.
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As seen in photos posted by one of the newest UK Model 3 owners, the symmetry of the vehicle has resulted in a seamless, mirror-image production of the left-hand drive variant. Notably, the positioning of the car’s image on the touch screen is also mirrored for right-hand drive customers. Elon Musk previously touted elements of the Model 3 design which specifically enabled multiple driving configurations with only minimal retooling and engineering.
Another UK customer who purchased a Pearl White Multi-Coat Model 3 RHD noted that his vehicle was one of an initial batch of 50 RHD deliveries. Several more shipments are reportedly arriving in the UK soon, though, according to one reservation holder and Tesla Motors Club member who received a call from Tesla indicating the same. Specifically, out of 1,000 cars on the recently-arrived cargo ship Grand Mark, 150 of them are Model 3 RHD set for delivery at the end of June. Following that shipment are two other ships with 2,000 RHD cars each set for deliveries in July and August, per the call from Tesla.
Tesla’s UK customers are eligible for the country’s £3,500 plug-in grant, the deduction for which is included in the online configurator pricing, and are exempt from the daily £11.50 London Congestion Charge. This benefit is currently available for plug-in hybrids as well; however, beginning in October 2021, only all-electric vehicles will qualify. Tesla customers will also have access to the London Ultra Low Emission Zone without paying the noncompliance fee of £12.50. Altogether, UK Model 3, Model S, and Model X owners will benefit from significant savings via their Tesla ownership on top of no longer needing gasoline.
With thousands of Model 3 deliveries yet to come in the UK, Tesla customers in the country may be able to take advantage of a more streamlined manufacturing and order fulfillment process now that the company has a fair amount of logistics under its belt. The current on-time deliveries certainly seem to indicate this may be the case.
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
