Tesla’s ‘mass market’ $35k electric car ready to order, online

Tesla said Thursday that its Model 3 sedan heralded as an electric car for the masses was available for order at a price of $35,000, with delivery promised within a month.(AFP / SAUL LOEB)
Updated 01 March 2019
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Tesla’s ‘mass market’ $35k electric car ready to order, online

SAN FRANCISCO, US: Tesla said Thursday its Model 3 — heralded as an electric car for the masses — is available for order online only at a price of $35,000, with delivery promised within a month.
The announcement fulfills a vision of Tesla founder and chief Elon Musk, who has touted a more affordable electric car as part of his vision of weaning drivers from gasoline-powered vehicles.
The Model 3 was to be priced at $35,000 when Tesla first began taking orders in 2016, but the cheapest version before today was about $10,000 more expensive despite price cuts that followed reductions in the US federal tax credit for vehicles not burning fossil fuels.
Musk described the Model 3 early on as “the final step in the master plan: a mass market, affordable car.”
With Model 3, Tesla aimed to show it can appeal to the general public and produce cars en masse.
Not long after Tesla was founded in 2003, Musk said the plan was to use money from high-end electric vehicles to create more affordable offerings to make the technology the new automotive norm.
As it launched its least expensive Tesla, the company said it would sell only via the Internet.
“To achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only,” Tesla said in a statement.
The “standard” Model 3 has a smaller range before recharging, of 220 miles (350 kilometers).
Its specifications include a top speed of 130 miles per hour (208 kilometers per hour) and 0-60 mph acceleration of 5.6 seconds.
“Although lower in cost, it is built to achieve the same perfect 5-star safety rating as the longer-ranged version,” Tesla said.
Tesla also introduced a Model 3 Standard Range Plus, which offers 240 miles of range, a more powerful drivetrain and premium interior features at a price of $37,000.
Tesla shares that closed the formal trading day up slightly slid 3.3 percent to $309.38 in after-market trades that followed release of the news.
“The bears will focus on this news as a sign that lower profitability and demand are catalyzing this move and strategic pivot, which we strongly disagree with,” Wedbush analyst Daniel Ives said in a note about Tesla to investors.
“We believe this strategic shift was the right move at the right time for Tesla, although the stock will be a ‘prove me’ name for the next 6-9 months.”


Samsung delays Galaxy Fold media events in China

Updated 22 April 2019
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Samsung delays Galaxy Fold media events in China

  • Instead of plaudits ahead of the phone’s launch on April 26 in the US, Samsung has instead received brickbats
  • The hashtag #foldgate trended on Twitter because of the smartphone issues

SEOUL: Smartphone maker Samsung postponed media events for its Galaxy Fold planned for this week in Hong Kong and Shanghai, a company official said, days after reviewers of the foldable handset reported defective samples.
The official did not elaborate on reasons or rescheduling.
Instead of plaudits ahead of the phone’s launch on April 26 in the United States, the South Korean conglomerate has been blighted by technology journalists reporting breaks, bulges and blinking screens after using their samples for as little as a day.
Samsung said it received “a few” reports of damage to the displays of samples of the $1,980 handset, raising the specter of the combustible Galaxy Note 7 three years ago which the firm ultimately pulled from shelves at massive cost.
The reviewers’ reports of broken screens went viral online and prompted the creation of hashtag #foldgate on Twitter.
Samsung has hailed the folding design as the future in a field that has seen few surprises since Apple’s iPhone in 2007. Chinese rival Huawei Technologies has also announced a folding handset, the Mate X.
The Samsung official on Monday said it had no change to its previously announced release date in the United States.
It plans to begin South Korean and European sales in May, and Chinese sales from an undisclosed date.