Huge Popularity

Tesla Motors’ upcoming Model 3 electric sedan.
Tesla Motors’ upcoming Model 3 electric sedan.

 

Tesla Motors, the U.S.-based electric vehicle (EV) producer, announced on April 2 (local time) that it received 253,000 preorders for its Model 3 electric sedan, which is slated to be officially released at the end of next year, in 36 hours after preorders began. Once all the preorders for the Model 3 are delivered to customers as scheduled, the company will secure US$10.6 billion (12.2 trillion won) worth of sales.

For the Model 3, which has started the preorders online and offline in seven countries around the world including South Korea from March 31, the base price is US$35,000 (40 million won), and it costs about US$42,000 (48 million won) with options. In the U.S., the government subsidies, such as tax benefits, will be US$7,500 (8.6 million won).

Tesla expects that the Model 3 will pave the way to popularize EVs. About 35 percent, or 5.5 million units, of new cars sold in the U.S. market last year, had the price tag of more than US$35,000 (40 million won). 

The company plans to increase its sales from 85,000 units this year to 500,000 units by 2020.

The Model 3 will be able to travel 215 miles (346 kilometers) with a single charge. The range is more than double the figures of the Nissan Leaf and BMW i3. It also can go from a dead stop to 60 miles (96 kilometers) per hour in 6 seconds.

Prospective buyers have filled the preorder form with a deposit of US$1,000 (1.1 million won), and they will receive the Model 3 in order after the release in 2017. 

Copyright © BusinessKorea. Prohibited from unauthorized reproduction and redistribution