For Twitter users that follow Tesla's (NASDAQ: TSLA) Elon Musk already know now that the Model 3 will be debuted in March it was announced today via the social media site. This is exciting news because the USA today reported that it will ready in two years which will correspond with the completion of the GigaFactory, Tesla’s large battery manufacturing facility just outside Reno, NV.
The USA story and Tesla have not released the expected range of the Model III. So far, reports place the expected range of the car anywhere from 200 to 250 miles of pure EV range. Previously I have written about the anticipated range of the next generation Nissan Leaf and its expected range of 330 pure electric miles due out in 2017. So at this point the range question is still up for grabs. Will we know more in March? I expect so, but at this point the speculation will continue and we will have to wait and see whether or not Tesla bests the Nissan Leaf anticipated range or will they come in around the stated EV mileage of the Chevy Bolt (not to be confused with the Chevy Volt plug in hybrid car).
Overall, the long awaited Model III will have competition by the time it makes out in two years.
Although the lower gas prices have likely had a negative impact on EV car sales as of late, the longer term oil price will surely increase by 2017 and I have written articles previously speculating that current EV sales may be hurt due to the product announcement of these extended range EVs on the horizon. There truly is a pent up need for extended range EVs as many of the current offerings that go longer than one hundred miles are mostly plug in hybrids at this point.
Overall we expected many more plug in hybrids and extended range pure Electric Vehicles within the next few years.