Electric car maker Tesla provides first look at cheaper Model 3 sedan
Electric automaker Tesla has produced its first Model 3 sedan, a highly anticipated car because it carries a relatively low sticker price.
Chief executive officer Elon Musk late on Sunday tweeted pictures of the car, which will cost $35,000 and can travel 215 miles on a single electric charge.
A $7,500 federal tax credit for electric vehicles would lower the cost to $27,500.
The new model comes after a bad week for Tesla’s stock price. Shares fell roughly 14% after Musk tweeted that deliveries of the company’s other two models—the Model S sedan and Model X SUV—were at the lowend of the company’s projections in the first half of this year.
Musk also said the company would make 20,000 Model 3s in December, below previous estimates.
Musk earlier had said Tesla would make 10,000 Model 3s per week by December.
Musk also has said the Palo Alto, California-based company will hold a party to hand over the first 30 Model 3s to customers on July 28.
Tesla expects to produce 100 cars in August and more than 1,500 in September this year, Musk had tweeted earlier.
While second-quarter deliveries rose 53% from a year ago, they still were about 12% below firstquarter deliveries.
Tesla said in a statement that second-quarter production was hampered by a severe shortfall of battery packs.
Production averaged 40% less than demand until early June, the company said.
Telecom major Bharti Airtel on Monday said it will invest ₹2,000 crore over three years under ‘Project Next’, to revamp customer touch points and enhance subscriber experience. Under Project Next, Airtel will revamp its stores, launch mobile handset protection schemes, allow transfer of unused mobile data to next month for postpaid users and pooling of postpaid plan within a family, Bharti Airtel MD and CEO (South Asia) Gopal Vittal told reporters here.
The company, locked in an intense battle against operators like Reliance Jio and Vodafone, said it will launch several digital innovations to “step change the simplicity and interactivity” of its customer experience. On the rollout of VoLTE (Voice over LTE), Vittal said it is in the works and the company is conducting trials in five cities.