Elon Musk, CEO of Tesla Motors said the Model 3 “won’t look like other cars” when asked about the electric vehicle during the Reddit AMA on Monday night.
Last July, Elon Musk revealed that the next generation electric vehicle of Tesla Motors will be called Model 3. Previous rumors referred to the upcoming Tesla electric car as Model E.
Jim Chanos At Invest For Kids: Short This Tech Company As Profits Slump
At this year's Invest For Kids conference, hedge fund manager Jim Chanos pitched a tech giant as his favorite short idea. Jim Chanos is a Wall Street legend. The president and founder of Kynikos Associates made his name shorting Enron in the 1990s. He has since identified some of the most profitable shorts in the Read More
According to Musk, the Tesla Model 3 is smaller than the Model S and it is designed a new competitor for the BMW 3 Series. The Model 3 can travel more than 200 miles in a single charge.
Tesla Motors plans to unveil the Model 3 on 2016 and it will start selling the electric vehicle on 2017.
Musk explained why Tesla named new EV Model 3
According to Musk, Tesla Motors previously want to call its smaller electric vehicle Model E since the company’s sedan is called Model S and the crossover SUV Model X. However, Tesla’s plan was blocked by Ford Motor Company.
“We were going to call it model E for a while and then Ford sued us saying it wanted to use the Model E – I thought this is crazy, Ford’s trying to kill sex! So we’ll have to think of another name,” said Musk.
He added, “The new model is going to be called Model 3. We’ll have three bars to represent it and it’ll be S III X!
Tesla Model 3 is not a cut down version of Model S or Model X
Musk emphasized during the company’s earnings conference call with investors last November that the Tesla Model 3 is not a cut down version of the Model S or Model X.
He said that the recently introduced all-whell drive (AWD) version of the Model S is a precursor technology for the Model 3.
Musk said the Model 3 will be based on an all-new platform. Chris Porrit, the British engineering chief of Tesla Motors is working on the new technology for the smaller electric car. Porrit previously worked at Aston Martin.
The latest survey from DMV.com showed that Tesla Motors needs to do a lot of things to ensure the success of its Model 3. The electric car manufacturer intends to mass market the Model 3.
In order to succeed, Tesla Motors need to address the price, range, charging stations and to educate consumers about its electric vehicles. Many consumers are hesitant to purchase an electric car because the upfront cost was too high and there are no charging stations available.