Elon Musk has provided a quick update about the Model 3’s international ramp on Thursday, posting his estimates for the availability of the Standard and Standard Plus versions of the electric sedan in Europe and China. Musk also posted a reminder about the affordable Model 3’s price, which will be adjusted depending on country-specific taxes.
Sharing his thoughts on Twitter, Musk stated that he expects the base Model 3 to be available in Europe in around 6 months. The Tesla CEO also stated that the affordable Model 3 should be available for the Chinese market in 6-8 months, provided that Gigafactory 3’s electric car production begins on time.
Base Model 3 available in Europe in ~6 months, Asia 6 to 8 months. Latter contingent on Shanghai Gigafactory. Country-specific taxes & import duties mean price may be 25% or more above US number.
— Elon Musk (@elonmusk) March 1, 2019
Elon Musk’s estimated timeframe for the European and Chinese launch of the Model 3’s affordable versions bodes well for Tesla’s capability to produce and support an ever-growing ramp for the electric sedan. Considering that Tesla was able to introduce the $35,000 Model 3 earlier than expected, it appears that the company is now at a point where it can comfortably meet the production demands of the vehicle despite offering versions that cater to a much larger demographic.
It should be noted that the Model 3 is designed to be a mass-market electric car that can be competitive in price against ubiquitous passenger cars like the Toyota Camry and the Honda Accord. Since starting Model 3 production in 2017, skeptics have pointed at the vehicle’s price as a point of criticism against Tesla, especially considering that the first versions offered by the company were closer to $50,000 than Elon Musk’s target $35,000 price (the Long Range RWD Model 3, for one, was initially offered at $49,000 before incentives or add-ons). Eventually, the $35,000 Model 3 even became a favored point among Tesla bears on social media, when highlighting the company’s “broken promises” about the electric sedan. The recent launch of the Standard and Standard Plus Model 3 ultimately topples this bear thesis.
Model 3s now available
Standard Range: 220mi, $35k
Standard Range Plus: 240mi, $37k
Mid Range: 264mi, $40k
Long Range: 325mi, $43k
Long Range AWD: 310mi, $47k
Performance AWD: 310mi, $58k, 0-60 mph in 3.2s!
(prices before incentives)
— Tesla (@Tesla) March 1, 2019
Tesla appears to be preparing itself for a massive influx of orders for the Model 3’s Standard and Standard Plus versions. Before launching the two new Model 3 variants, Tesla registered large groups of RWD Model 3 VINs. So far this quarter, Tesla had filed over 49,000 RWD Model 3 registrations, a significant number of which is likely intended for the US market (Europe only gets AWD vehicles for now, while the Long Range RWD version is available in China).
Tesla took the electric car community by surprise when it launched the $35,000 Standard Model 3 on Thursday. The company has been quite conservative about its updates on the affordable Model 3’s release date, with Musk not even giving an estimated timeframe for the vehicle in the fourth quarter earnings call. With deliveries of the Standard and Standard Plus Model 3 expected to begin within the next few weeks, Tesla’s end-of-quarter push this Q1 2019 will likely be the company’s most compelling yet.