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Tesla is redesigning the Model 3 to cut production costs and will produce the less complex version

Tesla will’redesign the Model 3 to reduce production costs and produce a more complex version in late 2023′, as stocks slump 20% following Elon Musk’s Twitter acquisition

  • Tesla is currently working to redesign its Model 3 in order to simplify the vehicle and reduce production costs. 
  • The company is looking to reduce the amount of parts required to make the popular sedan. It could also include exterior changes.
  • Musk said that Tesla is trying to lower costs by simplifying its operations 
  • Tesla stock has fallen 20% since Musk’s Twitter deal. One analyst stated that Musk’s work at the network was creating a negative sentiment for the automaker.

Tesla is working to redesign its Model 3 to lower the vehicle’s complexity, and reduce production costs.

The company is looking to reduce the amount of parts required to make the sedan. It could also include changes to the exterior and powertrain performance.

The revamp will go into production at Tesla´s factory in Shanghai and the company’s Fremont, California plant, two sources told Reuters. Tesla´s Shanghai Gigafactory will put the redesigned Model 3 into production in the third quarter of 2023, they said. 

Musk, the man running Twitter and facing backlash by advertisers on the platform, said that Tesla is working to lower costs and create a small-car platform that will be half the price of the Model 3.

Tesla is currently working to redesign its Model 3 in order to simplify the vehicle and reduce production costs.

The Company Wants To Reduce The Number Of Parts Needed To Produce The Sedan And The Redesign Could Include Changes To Its Exterior And Powertrain Performance

The company hopes to reduce the number required to manufacture the sedan. This redesign could include modifications to its exterior or powertrain performance.

“Over and over we found parts that were not necessary. They were placed there in error or in case of an emergency. Musk stated that we removed so many parts from a car which did not do anything in an interview at the Baron Funds conference earlier this month.

Musk and the automaker find themselves in perilous times. 

Morgan Stanley recently surveyed Tesla investors and discovered that Musk’s involvement in Twitter “has contributed to negative sentiment momentum” in the stock.

Morgan Stanley analyst Adam Jonas told MarketWatch The survey results confirmed his view about the negative effect of Twitter on Tesla. 

Tesla’s market cap has fallen by $500 billion in the last few months, and the stock is down around 20% since Oct. 28, when Twitter announced its acquisition. 

Musk’s firm faces increasing competition in EV markets as more mainstream automakers, such as China’s BYD (Hyundai) and BMW, produce hybrid or all-electric vehicles. 

It is unclear when production at Fremont would begin, what kind of cost savings Tesla would realize from the redesign and if Tesla would pass those savings onto consumers. 

Tesla Has Lost About $500 Billion Of Market Cap In The Past Couple Of Months And The Stock Is Down About 20% Since Oct. 28, When The Twitter Deal Went Through, Marketwatch Reports

MarketWatch reports that Tesla has lost approximately $500 billion of its market capital in the past few months, and that the stock has dropped about 20% since Oct. 28, when Twitter’s deal was completed.

1669759724 379 Tesla Is Redesigning The Model 3 To Cut Production Costs

Morgan Stanley recently conducted a survey of Tesla investors. They found that Musk’s involvement with Twitter had ‘contributed to negative sentiment momentum’ in Tesla stock.

In The Third Quarter, Tesla Made A Profit Of Just Over $9,500 For Every Car Sold, Compared To Roughly $1,300 For Toyota, According To Disclosures By Both Companies

According to disclosures from both companies, Tesla made a profit just over $9,500 on every car it sold in the third quarter. Toyota earned roughly $11,300.

Tesla is the most profitable electric vehicle manufacturer because it focuses on efficiency. Many of its competitors are losing money. 

According to disclosures from both companies, Tesla made a profit just over $9,500 on every car it sold in the third quarter. Toyota earned roughly $11,300. 

AutoPacific Group president Ed Kim said that the Model 3 is already updated from the 2017 version. This is due to the way Tesla updates the battery performance, information, and entertainment options via software. Even though it looks the same, the model 3 still has the same look.

Reuters was told by he that consumers still associate visual changes with newness. Tesla is aware that visually tangible changes are necessary.

He explained that potential customers will feel and see the changes in the near future. This will ensure that EV customers keep Tesla top of mind as excellent alternatives to Tesla are flooding the market.

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Jacky

The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

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