Tesla Motors Inc (NASDAQ:TSLA) Model X is gaining substantial traction even before its launch. The Model X has garnered many pre-orders before the expected launch in early 2015. According to Tesla Motors Club, pre-orders for Production stood at 9,555 all over the world and around 1,432 pre-orders were placed for Signature Model X.
Tesla Model X to feature AWD, "falcon doors"
To book a standard Model X, one has to deposit $5000 while the signature version will be booked for $40,000. In its blog, the company clarified that those who have booked for upgraded models will be counted whereas cancellations will not be counted.
Tesla Motors Inc (NASDAQ:TSLA) Model X will be all-wheel drive only with a separate electric motor powering the front wheels. The wheelbase of Model S and Model X will be same, and the length of the Model X will be within 5 centimeters compared to that of the Model S. The Model X has a unique practical body style and stylish “falcon doors.”
Audi to give tough competition
The Tesla Motors Inc (NASDAQ:TSLA) Model S hasn't dealt with a competitive threat because there is no other big automaker that can design a car to the level of the Model S and at this price point. The Model S is due for a software update, which would include a hill-hold function giving the car the ability to set ride height manually over a wider speed range and other changes. However, the crossover Model X will have competition from these carmakers.
Tesla Motors Inc (NASDAQ:TSLA) Model X will get close competition from Audi Q8 e-tron, which is expected to cost around $130,000. The car is expected to be a real competitor for the Model X, but will be late by 2-3 years as Tesla is planning to launch Model X ahead of Audi Q8 e-tron.
Model X will have a battery pack of at least 80 kWh. Audi, on the other hand, has reportedly integrated the latest developments in the battery technology by increasing the range of the upcoming R8 e-tron from 134 miles to 248 miles. The battery technology would be more advanced by the time Q8 e-tron is launched in the market.
During the recent European tour, CEO Elon Musk stated that the battery cost would be less for the Model E sedan bringing it in the range of BMW 3 series-like with a base price target of $30,000 to $40,000. Model E batteries are anticipated to cost 30% to 40% less per kilowatt-hour than Model S batteries.