Tesla Now Taking Orders For Model X In Australia

Tesla stockBlomst / Pixabay

Tesla is finally launching its Model X in the U.S. in the coming weeks and in Australia. Although the local arm has not arrived at a decision regarding whether the car’s seven-seat layout will be standard or optional, it has already started taking orders from Australians, Tesla Australia’s Heath Walker informed TMR.

How Tesla’s Model X will fare against rivals

To place an order, one needs to pay a fully refundable $,6000, and deliveries are expected around this time next year. Walker reportedly told TMR that the price point will be competitive against Tesla competitors in the Model X’s large SUV class. Tesla’s rivals include BMW’s X5 and the new Mercedes-Benz GLE-class, which is priced between $87,000 and $190,000 in Australia. Walker believes the Model X will prove to be a tough competitor for the Porsche Cayenne and Macan as well.

The Palo Alto-based firm is also working on its more affordable Model 3, which will hopefully be launched in 2017, according to Walker, but is hugely dependent on the gigafactory. With the gigafactory, Tesla is expecting to bring down the cost of its batteries. Lower priced batteries will help lower the price of the Model 3 against competitors such as BMW’s 3 series with an anticipated starting price in the U.S. of around $35,000.

Lower price Model 3 in 2017

As of now, Tesla has given no details on the performance of the car, but it is anticipated that the range will be somewhere above 200 miles (320km) with a performance similar to that of the Model S. As of now, the company is not giving any conformation on the form factor either, but images are already pouring in on the internet.

The Model 3 development process is being headed by Chris Porritt, who used to work with Aston Martin, and it is believed the electric vehicle will be based on a new platform rather than the same one as that used for the Model S and Model X. The Model 3 is expected to be a swifter, lighter and smaller car than the Model S.

On Friday, Tesla shares closed down 0.67% at $265.41. Year to date, the stock is up by almost 20% while in the last 12 months, shares are up by almost 19%. The stock has a 52-week high of $291.42 and a 52-week low of $181.40.

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About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com

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