Tesla Will Announce Its Third Generation Vehicle Platform in March

Tesla will announce its third generation vehicle platform at its Investor Day event in March

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Tesla's worth in the stock market plummeted to end 2022 and to start 2023; it posted lower-than-expected deliveries. There are no doubts that investors are uncertain, which may be why the company announced its first-ever Investor Day. The event will take place on March 1, 2023, and the company provided a few tidbits of what to expect, including the generation three platform.

Generation 3 Platform

Picking up where Elon Musk left the third quarter earnings call, Tesla is ready to announce plans for the next phase of the company's production. During the call in October, Musk said, "we don't want to talk exact dates, but this is the primary focus of our new vehicle development team, obviously. At this point, we've done the engineering for Cybertrucks and Semi. So, it's obviously what we're working on, which is the next-generation vehicle."

The CEO also revealed that the engineers were tasked with a two-for-one target, including cutting costs and production times. Musk added, "we're twice the output. And we do believe this can be done."

What's the Next Tesla Product?

During the Semi delivery event on December 1, 2022, there was a slide titled: Covering Major Forms of Terrestrial Transport. The slide included Models S, 3, X, Y, Semi, Cybertruck and Robotaxi. Robotaxi also appeared in the second quarter earnings report indicating that it was 'in development.'

However, there is speculation that the third generation could be the most affordable Tesla yet. The number most often heard is $25,000, which, if true, would be a game changer by removing the most significant barrier for many people who want to own an electric vehicle.

Musk said, "It will be smaller, to be clear. But it will, I think, certainly become, certainly exceed the production of all our other vehicles combined." That would be music to investors' ears.

Making things even more interesting, Tesla's Chief Designer, Franz von Holzhausen, was recently asked to name his favorite model. He responded, "my favorite one is the one that is coming. I can't talk about (it)." I speculated the sports car fan who grew up in the wedge era and had posters of Lamborghini Countachs on his wall must've been referring to the next Roadster. But von Holzhausen also talked about how cool it is to see Teslas everywhere; perhaps he is excited to see a more affordable Tesla hit the market.

According to the short news release Tesla sent out announcing Investor Day, the company will also discuss long-term expansion plans, capital allocation and other subjects. However, Tesla's earnings call is scheduled for January 25, and we will get more information, or yet another tease, of what is next for the company.

Tesla Officially Launches the New Model 3 Performance, Deliveries Start Next Month

Today, a few hours before releasing their first quarter financial results, Tesla launched the highly anticipated Model 3 Performance. The new version starts at $45,490 (after applying the $7,500 Federal EV tax credit) and deliveries are scheduled to start in May.

With 510 horsepower and a top speed of 163 mph, the new Performance variant brings an improved sound system, a re-designed interior featuring more comfortable rear seats with some features coming directly from the recently revamped Model 3. Tesla also says that the new Performance model has “significantly less” road and wind noise thanks to the rear spoiler and changes to the front bumper.

“The front and rear fascias, rear diffuser and carbon fiber spoiler work together to help reduce drag and improve lift balance at high speeds”

Tesla’s most powerful Model 3 ever is now cheaper than the Model 3 Long Range after the federal tax credit. The Model 3 Performance model is the only Model 3 variant that is eligible for the government incentive.

Performance

The new Performance model comes with 20

While the new Performance model is largely based on the recently revamped Model 3, while including design changes to the front and rear diffuser, as well as the addition of a rear spoiler. In terms of performance, the model announced today offers a 22% increase in continuous power, a 32% increase in peak power, and an additional 16% of peak torque. The Performance model now has 500 hp and includes a “performance” motor that’s unique to the Performance model.

New Model 3 Performance launching today 🏎️

→ https://t.co/IEF8dpRyvJ

0-60 mph in 2.9
510 hp / 741 Nm
163 mph top speed
—
Performance-tuned chassis
Same quiet & comfortable cabin plus bespoke chassis hardware for improved stiffness and higher performance baseline.

More power,… pic.twitter.com/kJKOuDpOTP

— Tesla (@Tesla) April 23, 2024

The new Model 3 Performance is capable of going 0 to 60 in 2.9 seconds, 0.2 seconds faster than the previous incarnation. It didn’t take long for Tesla’s CEO Elon Musk to comment on X stating that the Model 3 Performance is “quicker than a Porsche 911.”

Specs of the new Tesla Model 3 Performance

Track Mode V3

The new Model 3 Performance is equipped with an updated Track Mode, v3, that features an all-new calibration for the powertrain and adaptive suspension.

Tesla's Track Mode V3

Range

The Model 3 Performance has an EPA range of 296 miles (476km) on a single charge, an increase of 10 miles (16km) when compared to the previous version while being slightly lower than the Long Range variant.

Rear Display

As seen in the revamped version of the Model 3, Tesla is also bringing the rear 8” touchscreen with climate controls, Bluetooth connectivity and entertainment for the rear passengers. With Tesla update 2024.14, Tesla is improving the rear screen by adding trip information, time and temperature information to the top of the display.

Exterior view of the new Tesla Model 3 Performance

All-new Adaptive Suspension

According to Tesla, the new adaptive dampening system adjusts to driver and road input in real-time. While the new Model 3 already included suspension improvements over the previous generation, the Performance model takes it one step further.

New Seats

The new model includes the new Sport Seats that we’ve seen in spy shots before. Although the new model is officially named “Performance,” the sport seats feature the Ludicrous badge. The seats include improved side and cushion bolsters to help keep you in an ideal driving position

The new Sport seats feature the Ludicrous badge

Deliveries

The model just went up for sale a few hours ago, but orders placed minutes after the launch show an estimated delivery of May/June 2024 in the United States. In Canada, where the Model 3 Performance starts at CA $69,990, the estimated delivery is currently slated for June/July.

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Tesla Cuts Newly Formed Content and Ads Team, Musk says Ads Were “Too Generic”

Tesla eliminated a newly formed marketing team of about 40 employees as part of its global layoffs, Bloomberg reported on Monday morning. On X, Elon Musk said the ads created by the team were “far too generic” adding that they would apply to “any car”.

Exactly. The ads were far too generic – could’ve been any car.

— Elon Musk (@elonmusk) April 22, 2024

The team was led by Alexander Ingram who joined Tesla in August 2019 as Communication lead for Automotive. After a few different roles connected with content and social media, Ingram was promoted last December to Senior Manager of Global Growth Content. In the new role, he was leading a global team of creatives focused on Tesla's first ads, as well as social media.

Ingram put out some excellent behind-the-scenes videos on Tesla’s technological advancements such as the one below explaining Tesla’s single casting.

Tesla’s Advertisement Strategy

At Tesla’s 2023 annual meeting of shareholders, Elon Musk said that the company would “try a little advertising and see how it goes”. Since then, Tesla ads have been seen in Google search results and on YouTube.

In Tesla’s proxy statement filed last week, it is seen that the automaker has spent around $200,000 on X-advertising through February 2024.

“As part of a multi-platform advertising campaign, Tesla also directly or indirectly purchased advertising on X, which totaled approximately $0.2 million through February 2024”

Bloomberg’s source added that Tesla still has a smaller marketing team in Europe.

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