Finweek English Edition - - THE WEEK -

Elec­tric car man­u­fac­turer Tesla re­ceived 180 000 pre-or­ders for its new, lower-cost Model 3 within 24 hours on 1 April. The cars, which will have a range of more than 346km are ex­pected to re­tail at about $42 000 (nearly R640 000), Tesla founder Elon Musk said on Twit­ter – trans­lat­ing into roughly $7.5bn in sales. The “fu­ture of elec­tric cars [is] look­ing bright!” Musk said. The un­ex­pected pop­u­lar­ity of the Model 3, which will only be avail­able in 18 months, is rais­ing ques­tions on whether Tesla will have the man­u­fac­tur­ing ca­pac­ity to ful­fil de­mand timeously.

Elon Musk CEO of Tesla


Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.