Tesla CEO Elon Musk, who stayed for a post-vote question-and-answer period after shareholders voted to continue the SolarCity acquisition on Thursday night, threw out a big clue about the status of the Model 3. An audience member asked about the Model 3 during the Q&A, to which Musk suggested that the third reveal would be in the spring of 2017.
Third reveal of Model 3 in three or four months
“Today is not the time for that announcement, but, I mean — it’s probably, yes, I don’t know, beginning of spring or something like that, yes. Three or four months from now,” Musk responded.
We have already seen two Model 3 reveals. We got to see the electric car itself in the first reveal, and in the second reveal, we learned that all Tesla cars, including the Model 3, will ship with the hardware required for full autonomy. There were no reports about the third reveal before Thursday.
Stone House Capital Partners returned 4.1% for September, bringing its year-to-date return to 72% net. The S&P 500 is up 14.3% for the first nine months of the year. Q3 2021 hedge fund letters, conferences and more Stone House follows a value-based, long-long term and concentrated investment approach focusing on companies rather than the market Read More
Based on a few hints and Musk’s Twitter activity, Inverse expects the Model 3 to come packed with a HUD or heads-up display. There are chances that the third big reveal will involve the HUD; however, it is only speculation at this point. We will find out the complete truth in three to four months.
Musk also revealed one more detail about the Model 3 in the Q&A, clearing up confusion about the charging costs. Model 3 owners will not be treated to unlimited free charging, and the same goes for any future Tesla owner. According to Inverse, Model 3 owners should not worry about these minimal costs as long as they invest in the solar roof, which Musk announced would cost “less than a normal roof.”
On Thursday, Tesla shareholders approved the deal to acquire SolarCity. This deal will make the solar panel installer a wholly-owned subsidiary of the automaker. Over 85% of shares voted were cast in favor of the deal. Following the vote, Musk said Tesla stores would become “one-stop shopping emporiums” where customers can buy a growing suite of electric cars, solar panels, and electricity storage units.
“We’re trying to make an integrated product, where you can go to Tesla store and just say yes,” Musk said.
He added that the automaker expects to start producing its new solar panels in larger quantities in the summer of 2017.
On Thursday, Tesla shares closed up 2.57% at $188.66. Year to date, the stock is down more than 21%, while in the last year, it is down almost 9%.