Tesla unveils $35,000 standard Model 3, shifts worldwide sales to online-only

Elon Musk Moves Tesla Shares With Cryptic Tweeting About News To Come

Elon Musk Moves Tesla Shares With Cryptic Tweeting About News To Come

The price cut on the Model 3 comes three days after renewed tensions between Musk and U.S. Securities and Exchange Commission.

'Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6 percent on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected, ' the company wrote in a blog post.

Tesla has been gradually releasing cheaper versions of the Model 3 over the previous year, but it has never been able to bring the price down to $35,000 - the mass market price that they have been promising.

The new, base-level cars weren't the only news to come from Tesla this morning.

However, some analysts and investors question whether Tesla closing most of its 250 stores was the panicked decision of a company seeking to build the lower-cost model profitably. Soon, the only way you'll be able to purchase a Tesla will be through your phone or a computer.

Tesla Inc said on Thursday it would not be profitable in the first quarter, as it offered for the first time a $35,000 version of its Model 3 sedan and said its global sales would now be online-only, steps created to increase demand and cut overhead costs for the electric vehicle maker. A Model 3 owner could sell/trade it back to Tesla, or the owner can add their vehicle to the Tesla taxi fleet and share the revenue with Tesla.

It's unclear how many of Tesla's storefront locations would remain open as places where people could go to see and touch the cars in person, but in order to help reduce the need for these locations, Tesla has overhauled its deposit program. Tesla's website lists 130 current retail locations, with the greatest numbers in California, Florida, Texas, Illinois and NY. Tesla buyers, on the other hand, will only get a partial credit, because federal law phases out the subsidy after a manufacturer sells 200,000 EVs, and the company hit that threshold previous year.

OnePlus, Qualcomm plan to start 5G trials in India
OnePlus has been working with Qualcomm on the project since 2017, and the company successfully sent a tweet over 5G a year ago . Lau did not comment on by when the users can expect the improved wireless charging in OnePlus smartphones.

"Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free", the company's statement said.

The hardware to allow for self-driving has already been installed on every Tesla model since October of 2016, but activating it requires an extra US$4,000 "Autopilot" option, or for buyers to tick the box on a US$7,000 feature labeled "Full Self-Driving".

Musk said on the call that auto dealers were sure to mount legal challenges but he said he believes Tesla's direct sales couldn't be restricted under the USA constitution's protection of interstate commerce.

Earlier today Tesla announced its long-awaited $US35,000 Model 3.

The Model 3 electric auto has a range of 220 miles, a top speed of 130 mph and 0-60mph acceleration of 5.6 seconds. This model costs $37,000. The automaker's announcement was met with some complaints on Twitter, with people who had taken delivery of their cars late in 2018 suddenly finding the same vehicles could be thousands of dollars cheaper now.

Without confirming numbers, Musk conceded on the call there would be job losses, The Verge reported.

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