By Kevin Armstrong
Tesla has revamped its leasing program to align with the swiftly changing electric vehicle landscape. Historically, consumers primarily purchased EVs outright, but the tide is turning. By June 2023, an impressive 22% of new EVs on the road were leased, showing a significant jump from 13% in June 2022. This shift highlights the growing allure of flexible ownership, particularly in the evolving EV market.
Year-End Incentives and Performance Targets
Tesla’s recent overhaul of its leasing options seems tailored to cater to this rising interest in leasing. This strategic move taps into current market dynamics and positions Tesla to bolster its year-end performance.
The company’s communication about the potential reduction of the $7,500 tax credit for the Model 3 to $3,750 by the end of the year could spur many to finalize their purchase or leasing decisions, aiding Tesla’s Q4 figures — especially after the Q3 hiccups.
Making Tesla EVs More Accessible: The Revamped Lease Prices
For consumers on the fence about transitioning to an EV, Tesla’s enticing lease rates could tip the scales:
Tesla Model 3 Lease
- Model 3 Rear Wheel Drive: A drop from $419 to a tempting $329/month.
- Model 3 Long Range: Now at $439/month, down from $509.
- Model 3 Performance: An attractive $529/month reduction from $609.
Tesla Model Y Lease
- Model Y Rear Wheel Drive: A slash from $499 to a competitive $399/month.
- Model Y Long Range: A decrease from $549 to $469/month.
- Model Y Performance: A revised rate of $539/month, down from $629.
These attractive prices are for a 36-month lease term, covering a yearly distance of up to 10,000 miles.
Influence on the Broader EV Marketplace
Tesla’s dynamic pricing and leasing strategies, while aimed at broadening its consumer base, are also poised to impact the larger EV market. The EV leasing trend is gaining traction; other industry players are already experimenting with innovative solutions. For instance, Hyundai introduced a month-to-month EV “subscription” and offerings from startups like Autonomy, which provide monthly subscription models for a diverse range of EVs.
Tesla’s refreshed leasing approach and timely communication regarding potential changes to tax credits reflect its commitment to staying ahead in a rapidly shifting market. As 2023 draws to a close, Tesla’s moves indicate a strong desire to end the year on a high note – again.
By Kevin Armstrong
![Tesla is developing its own wireless charging solution](https://i0.wp.com/www.notateslaapp.com/images/news/2023/wireless-wall-connector-2.jpg?w=788&ssl=1)
Tesla recently parted ways with Wiferion, the German-based wireless charging startup they acquired earlier this year. However, the intriguing part of the deal is Tesla’s decision to retain all of Wiferion’s engineers. A closer look reveals a strategic game plan focused on acquiring some of the brightest engineering minds in the domain.
While the acquisition and subsequent sale of Wiferion might raise eyebrows, Tesla’s decision to retain all of Wiferion’s engineers lines up with its overarching strategy to attract and retain the best minds. This move bears all the hallmarks of “acqui-hiring,” a tactic tech giants use to rapidly onboard top talent by purchasing companies primarily for their human capital rather than their products or services.
By keeping Wiferion’s talent pool, Tesla has effectively bolstered its ranks with experts in wireless charging. This indicates that the company is still very invested in the wireless charging game.
Wiferion’s Legacy in Wireless Charging
Founded in 2016, Wiferion made waves in the industry with its innovative inductive charging systems tailored for industrial applications. Their technology could deliver up to lots of power and redefine rapid charging. It wasn’t just about the product but about the minds that made it possible.
Tesla’s acquisition of Wiferion was initially seen as a move to enhance its charging capabilities. The Freiburg-based startup’s technology promised nearly instantaneous charging transitions, delivering up to 12 kilowatts of power. With over 8,000 charging stations sold to industrial customers, Wiferion had already marked its territory in the market.
At a Tesla Investor Day presentation earlier in the year, a seemingly innocuous slide presented by Rebecca Tinucci, Tesla’s Senior Director of Charging Infrastructure, hinted at a future with wireless charging. Couple that with the acquisition of Wiferion, and Tesla’s ambitions in this domain become crystal clear.
With Tesla’s diverse portfolio, including Optimus, the applications of wireless charging and the minds behind it extend beyond vehicles. The expertize acquired from Wiferion could be integrated into various facets of Tesla’s innovation pipeline. Could this have been Tesla’s plan all along? A strategic move to swiftly integrate top-tier talent into its vision for the future of EV charging? The answer is obvious if you read any biographies about Elon Musk.
By Kevin Armstrong
![Tesla's new Model 3 had 50% of its parts redesigned](https://i0.wp.com/www.notateslaapp.com/images/news/2023/new-model-3-interior.jpg?w=788&ssl=1)
Tesla has showcased its newest car and given it a different name in the region: the “Upgraded Model 3.” This unveiling occurred in one of Asia’s premier metropolises, with much fanfare, introduced to the world at a launch event that celebrated Tesla’s innovations and marked the debut of Asia’s first Gigafactory Museum.
New Configuration and Pricing Details
The announcement came through Tesla’s Hong Kong website, inviting enthusiasts to Olympian City from October 12 to 25 to witness firsthand the majestic revamp of the iconic Model 3.
The details, freshly sourced from Tesla’s Hong Kong website, indicate that the Model 3 Highland will be available in a single, power-packed configuration: a dual motor all-wheel drive. The local price for the vehicle is 461,345 HKD (equivalent to $58,992.14 USD). Tesla is positioning the vehicle as a premium offering in its segment.
A Nostalgic Journey Through Video
A great video (below) showcases the Model 3’s journey from its inception in Hong Kong in 2019 to its current “Highland” iteration. The poignant piano tones, paired with nostalgic visuals that capture families reveling in the Model 3’s embrace, transitions seamlessly into an upbeat montage that highlights the electric vehicle’s aesthetic evolution.
Meet Upgraded Model 3 in Hong Kong ?? pic.twitter.com/QUXN397bnI
— Tesla Hong Kong 香港 (@teslahongkong) October 12, 2023
Interestingly, the naming conventions surrounding this new Model 3 have varied, with terms like “refreshed Model 3”, “New Model 3,” and “2024 Model 3” making rounds.
The Gigafactory Museum Experience
However, the launch isn’t just about the car. Tesla’s Gigafactory Museum, making its first appearance in Asia, opens its doors to curious minds. For years, Tesla’s manufacturing intricacies have remained shrouded in secrecy. This museum aims to pull back the curtains, giving visitors unparalleled insight into the company’s commitment to safety, innovation, and efficiency during production. It resembles the Peterson Museum in Los Angeles display with a few more factory components.
Spectacular Enhancements and Features
Back to the car. We knew the wheels were changing, but now we see the name. The latest images adorning the website give enthusiasts a visual treat. The Model 3 now sports upgraded 19-inch sport wheels, aptly named “Nova wheels,” which add to its already sleek and modern design.
To refresh your memory on some of the other enhancements, a lighter frame and improved aerodynamics drop the drag coefficient to a stunning 0.219, resulting in an 11-12% bump in the driving range. Acoustic enhancements reduce external noise disturbances, amplifying the luxury experience within the vehicle. The cabin gets a makeover, too, with ambient LED lighting, an advanced 17-speaker sound system, and even a sophisticated 8-inch touchscreen for the rear passengers, akin to the high-end Model S and Model X.
For those eager to get behind the wheel, there’s good news. Tesla estimates deliveries to commence this quarter. This suggests that the wait won’t be long for Hong Kong people who’ve set their sights on this electric beauty. However, there is still no news of when the Highland will be crossing the ocean and hitting the roads in North America.
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