TSLA Report: Tesla Model 3 May Cost More Than Thought

Advertisement

A new report claims that Tesla Motors’ (TSLA) Model 3 may not cost as little as the company hopes.

tsla-tesla-model-3The report comes from Advanced Automotive Batteries and it claims that Tesla’s Model 3 will have to cut a key feature or go up in price. The report predicts that the Model 3 won’t be able to stay at the target price of $35,000 and keep a range of 200 miles per charge (mpc), reports International Business Times.

Instead, the report predicts that the Tesla Model 3 will have to either decrease its miles per charge or go up in price. To reach the 200 mpc that the company is aiming for, the car would have to cost $50,000. This would put it at around the same price of BMW’s 5 Series, which is a luxury car, International Business Times notes.

Tesla’s 60-kWh version of the Model S currently costs $69,900 and has a range of 208 mpc. The smaller design of the Model 3 and use of next generation batteries from the company’s upcoming gigafactory could mean that the electric car will hit its price target, reports Green Car Reports.

TSLA shares were down 2% as of Friday afternoon.

More Tesla (TSLA) News


Article printed from InvestorPlace Media, https://investorplace.com/2014/09/tsla-tesla-model-3/.

©2024 InvestorPlace Media, LLC