Tesla Model 3

So, it’s official – the Tesla Model 3 will be here mid-next year, and in the UK, according to Tesla founder and CEO Elon Musk.

To date, Australian Tesla staff have only been able to tell The Driven that a ballpark arrival date for the Model 3 in Australia would be after right hand drive production starts mid next year.

But when one astute Tesla reservation holder noted that the notice of a late 2019 arrival date on Australian website had disappeared, he approached Musk via Twitter to ask what was going on.

Musk said: “Around mid 2019.”

That was followed up by another keen Tesla fan who then asked when the UK could expect the Model 3.

Musk’s reply was, “Same.”

The news follows this week’s earnings call, which revealed how the Model 3’s strong sales had propelled the company to an unexpected profit for the quarter, helped it boost cash flow, and underpinned a near 10 per cent jump in its share price.

The Model 3 production had also delivered an unexpectedly high margin – more than 20 per cent – which means that the cost of production is coming down, and that augurs well for the roll-out of the “cheap” $US35,000 version of the Model 3.

In order to get the cheaper Model 3 underway, Musk stressed that Tesla still has “more work to do”, and suggested that it will need to lower production costs to below $US30,000 so it can do so profitably.

It’s “probably less than six months away from that”, he said.

“That’s our mission.”

Tesla recently added a $US45,000 mid-range Model 3 to its website (in actuality a long range model with fewer battery cells), to offer customers a slightly cheaper version of what has been available to date.

 

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