February 23, 2017 – Tesla have announced that the company is on track with their previous plan of mass-production [or volume-production] of their much anticipated All-Electric Model 3 sedan. Tesla Model 3 is the latest generation of all electric 4 door sedan with some sporty looks and features. For instance, it can reach 0 to 100 km/h speed in less than six seconds. All electric means that it does not have any combustion engine; it only has one or more electric motors.
And what powers these electric motors? The answer is car-batteries. These are not your ordinary acid batteries; Tesla is making their own deep cycle batteries that can hold much more current/charge. One of the biggest challenges facing the electric vehicle industry is developing a battery pack that can hold more charge and to reduce its charging time. Tesla seems to be leading the way in solving this issue.
Tesla is one of the few companies who is trying to develop new technologies that can bring more electric cars to roads, and to make them affordable and efficient. Old electric cars have very slow charging process and their batteries do not hold a lot of charge to begin with. If you are travelling from one city to another, you probably will need several recharges. If charging the car need several hours, then do you think owing such a vehicle has any practical uses? This is the reason why electric car industry has failed to grow, but Tesla is trying to change that.
Elon Musk is the CEO of Tesla, SpaceX, PayPal, and few other companies. In a phone conference, he reassured the investors that Tesla plans are intact and they are going to volume produce the new Model 3 all-electric sedan starting in the fourth quarter of 2017. He told the investors that his company has the funds needed to execute their plans, but he said that Tesla is looking at raising some more funds in case the expenses cross the expected figures and to minimize risks. In the past one year, Tesla shares have rose more than 50%; that is a huge leap forward for the company and it shows how optimistic traders are about Tesla’s new cars. This seems like the best option for Tesla to raise funds as investors are showing high confidence in the company’s future plans.
Tesla have already started booking Model 3 for customers, but they haven’t released any figures about how many people have booked the upcoming pollution free car. Some details about Model 3 are already available online; for instance, it can hold charge for a journey up to 346 kilometers. It also has the supercharging ability that allows the car to complete a full charge is little over an hour time.