Tesla Upgraded Model 3 Dazzles in Hong Kong Debut

By Kevin Armstrong
Tesla's new Model 3 had 50% of its parts redesigned
Tesla's new Model 3 had 50% of its parts redesigned
Tesla

Tesla has showcased its newest car and given it a different name in the region: the "Upgraded Model 3." This unveiling occurred in one of Asia's premier metropolises, with much fanfare, introduced to the world at a launch event that celebrated Tesla's innovations and marked the debut of Asia's first Gigafactory Museum.

New Configuration and Pricing Details

The announcement came through Tesla's Hong Kong website, inviting enthusiasts to Olympian City from October 12 to 25 to witness firsthand the majestic revamp of the iconic Model 3.

The details, freshly sourced from Tesla's Hong Kong website, indicate that the Model 3 Highland will be available in a single, power-packed configuration: a dual motor all-wheel drive. The local price for the vehicle is 461,345 HKD (equivalent to $58,992.14 USD). Tesla is positioning the vehicle as a premium offering in its segment.

A Nostalgic Journey Through Video

A great video (below) showcases the Model 3's journey from its inception in Hong Kong in 2019 to its current "Highland" iteration. The poignant piano tones, paired with nostalgic visuals that capture families reveling in the Model 3's embrace, transitions seamlessly into an upbeat montage that highlights the electric vehicle's aesthetic evolution.

Interestingly, the naming conventions surrounding this new Model 3 have varied, with terms like "refreshed Model 3", "New Model 3," and "2024 Model 3" making rounds.

The Gigafactory Museum Experience

However, the launch isn't just about the car. Tesla's Gigafactory Museum, making its first appearance in Asia, opens its doors to curious minds. For years, Tesla's manufacturing intricacies have remained shrouded in secrecy. This museum aims to pull back the curtains, giving visitors unparalleled insight into the company's commitment to safety, innovation, and efficiency during production. It resembles the Peterson Museum in Los Angeles display with a few more factory components.

Spectacular Enhancements and Features

Back to the car. We knew the wheels were changing, but now we see the name. The latest images adorning the website give enthusiasts a visual treat. The Model 3 now sports upgraded 19-inch sport wheels, aptly named "Nova wheels," which add to its already sleek and modern design.

To refresh your memory on some of the other enhancements, a lighter frame and improved aerodynamics drop the drag coefficient to a stunning 0.219, resulting in an 11-12% bump in the driving range. Acoustic enhancements reduce external noise disturbances, amplifying the luxury experience within the vehicle. The cabin gets a makeover, too, with ambient LED lighting, an advanced 17-speaker sound system, and even a sophisticated 8-inch touchscreen for the rear passengers, akin to the high-end Model S and Model X.

For those eager to get behind the wheel, there's good news. Tesla estimates deliveries to commence this quarter. This suggests that the wait won't be long for Hong Kong people who've set their sights on this electric beauty. However, there is still no news of when the Highland will be crossing the ocean and hitting the roads in North America.

Musk Teases New Model for Early 2025 That Will Use a Mix of Next-Gen and Current Platforms

By Cláudio Afonso

“We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025”. This was one of the key sentences that were part of Tesla’s deck shared on Tuesday directly before its financial results.

Since Reuters’ report a few weeks ago saying Tesla had “scrapped” the highly expected cheaper model— which Elon quickly denied on X —retail and institutional shareholders started asking for more details on Tesla’s product roadmap for 2024 and beyond.

In the earnings conference call, Elon Musk reiterated that Tesla expects to launch the next model in “early 2025, if not late this year”.

“We've updated our future vehicle lineup to accelerate the launch of new models ahead of previously mentioned start of production in the second half of 2025. So, we expect it to be more like the early 2025, if not late this year. “

Over concerns of temporary production halts to update the factories for these new models, Musk said that Tesla will produce new models with certain aspects from their next-generation platform and current models. This will reduce the number of changes needed on production lines and allow Tesla not only to ramp up production faster but also to get the vehicles to market quicker.

Model Y Redesign

Tesla appears to hit that their next-gen vehicle will be less “next-gen” than they were initially aiming for, but to get a new vehicle out the door by late 2024, the process would already have to be in motion. Tesla may likely be referring to the redesigned Model Y, which is expected to reuse many parts from the new Model 3. Earlier this year, Tesla said that the redesigned Model Y will not be released this year, so it makes sense that they’re looking to speed up that production.

Tesla CEO concluded by saying that these measures will allow Tesla to reach a capacity of over 3 million units. Tesla produced 1.84 million vehicles in 2023. However, this year they’re ramping up Cybertruck production and introduced the new Model 3 into new markets.

And we think this should allow us to get to over 3 million vehicles of capacity when realized to the full extent.

Tesla reported on Tuesday its earnings results followed by a conference call where it teased its upcoming Robotaxi and its next-generation platform saying its “purpose-built Robotaxi product will continue to pursue a revolutionary ‘unboxed’ manufacturing strategy”.

Earlier in the day, Tesla announced the new Performance variant of its sedan Model 3 with deliveries in the United States starting already next month. The new version starts at $45,490 (after applying the $7,500 Federal EV tax credit) and goes from 0 to 60mph in 2.9 seconds.

Tesla on FSD: Close to License Deal With Major Automaker, Announces Miles Driven on FSD v12

By Cláudio Afonso

On Tuesday Tesla reported its earnings results followed by a conference call that brought several updates on the company’s roadmap for future vehicles, autonomous driving, Optimus and much more.

While answering a question from Goldman Sachs analyst Mark Delaney about updates on the licensing of Tesla’s Full Self-Driving (FSD) technology, Elon Musk said they’re talking to one major auto manufacturer and there’s “a good chance” the company signs the first deal before year-end. However, he went on to say that it would probably be three years before the necessary changes are integrated into the car.

I think we have a good chance we do sign a deal this year

Brings Benefits to Tesla

The technology would require other automakers to start using the same cameras and hardware as Tesla, meaning that Tesla may not only generate money from licensing FSD but also from selling the hardware itself. However, there would be other benefits as well. When licensing FSD, Tesla would likely own the data gathered with the system well, further helping them with data and edge cases that need to be solved to reach full autonomy.

people don't understand all cars will need to be smart cars… Once that becomes obvious, I think licensing becomes not optional.

Tesla’s Chief Financial Officer Vaibhav Taneja commented pointing out that future partners “take a lot of time in their product life cycle” resulting in a gap between the deal signing and the arrival in the market of Tesla’s FSD software.

Miles Driven With FSD

On the conference call, Musk added that Tesla now has over 300 million miles that have been driven with FSD v12 since it was launched just last month. He added that it's becoming “very clear that the vision-based approach with end-to-end neural networks is the right solution for scalable autonomy”.

Tesla said it will continue to increase its “core AI infrastructure capacity in the coming months” adding that in the first quarter, it completed the transition to hardware 4.0 with China now receiving the upgraded FSD computer and cameras.

Over the weekend, Tesla reduced the price of FSD dropping it from $12,000 to $8,000 for customers in the United States and from CA$16,000 to CA$11,000 in Canada.

Earlier this month, Tesla implemented a 50% price reduction for FSD subscriptions in the U.S. and introduced the subscription model in Canada at a great value of CA$99 per month.

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