VIDEO: Breaking Tesla News Includes Model 3 Production, Model S Trim Eliminated, Delivery Challenges
The weekly Tesla, Inc. news video with three-time Model S owner, and Facebook Tesla Model S Owner's Club founder, Alex Guberman focuses on Model 3. Alex reports that Tesla has raised $1.2 billion to help finance the Model 3s production. One would think that if the model was just about ready to go that money would have already been secured. The new "affordable" Tesla is scheduled to begin production in the next few months if rumors are to be believed.
Tesla also announced this week that it is discontinuing the least expensive Model S trim. Called 60, this trim offered the lowest entry price for a new Tesla sedan. Alex does not make the connection, but we seem to think this move is all about making room for the Model 3 in the portfolio. By taking out the entry point Model S, the less expensive Model 3 has more room for options to fill in the price point below Tesla's top-spec sedan.
Bottlenecks on Tesla Model 3 delivery is a topic already being discussed by Tesla. Alex says that Elon Musk is already noodling ways to speed up the delivery of the vehicle to customers. If delivery delays become the big news, rather than production delays, this long-term Tesla follower will be very surprised.
Alex concludes his video with a weekly stock update. We won't spoil the news, but we will say it is one of the biggest swings in Tesla's stock price we have seen in a long time.