Tesla spells out the differences between Model S, Model 3
- Author: Zachary Reyes May 27, 2017,
May 27, 2017, 12:12
For the tale of the tape, the pricier Model S checks out a foot longer than the Model 3, has more than twice the cargo space, and carries as many as five adults and two children versus the five adults in the less-pricey sedan. Tesla's official product information backs that up with claims of a 345km range and 0-100 km/h acceleration of "under 6 seconds".
Tesla has offered up a bunch of new details on the Model 3 EV and compared them to the Model S that is already available. The impressive figure just gives vehicle enthusiasts and buyers more reason to salivate over the much-hyped Model 3.
Analysts question whether Model 3 reservations - announced at almost 400,000 shortly after its launch previous year - will cannibalize Model S sales. However, it seems that the chart is primarily created to remind prospective buyers how great the Model S is by comparison. Musk has refused to update Model 3 reservation numbers.
Other information confirmed in the leaked document is that the Model 3 has a projected travel range of 215-plus miles.
Tesla stated in its recent earnings report that the company's capital expenditures is set to go above $2 billion by July as the company prepares for the production of the Model 3.
Musk said the Model 3 name has led to confusion among buyers who think it's a next-generation Tesla that's better than the Model S. "Model 3 is essentially a smaller, more affordable version of the Model S with fewer features", Musk told investors. While shares are now trading at around $368, Ben Kallo, an analyst from Baird have computed for the stock to hit at as much as $566 should the company be able to reach a total of 1 million vehicles being sold by 2020.