Tesla Reverses Decision To Close All Of Its Stores, Increases Vehicle Prices

Tesla backs off on store closure set to hike price instead

Tesla is expected to unveil the Model Y on 14 March at the Los Angeles Design Studio at 8 pm PDT.

While Musk has said the Model Y will share the Model 3 platform, it is expected to include a slew of differentiating features, including a third row of seats and updated instrument panels. So Tesla is going to close about half as many stores so the cost savings are only about half.

This year also saw Tesla break ground on a new factory in Shanghai, which is planned to house production of the Model Y after its initial production at the company's Reno, Nevada, factory.

Since last week the company has started accepting orders for the Model 3 that costs $35,000.

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Lawyers for Elon Musk have issued a defense of the Tesla CEO's tweet on February 19th, 2019 against the SEC complaint that the tweet violated the terms of Musk's earlier settlement with the regulator. To recall, Model 3 was revealed on March 2016, and it handed over its first 30 pre-registered cars after about 16 months in a special event in Fremont. Musk stated that until mid-year, the vehicle will not reach to its volume production.

"I think we will be feature-complete full self-driving this year, meaning the auto will be able to find you in a parking lot, pick you up, take you all the way to your destination without an intervention - this year", Musk said in an interview with ARK Invest. The Model 3 sedan will be Tesla's first vehicle to support the faster charging speeds, Tesla says. Hence, it is expected to be bigger -and priced in higher than the Model 3, which is the cheapest auto in the Tesla series. So, Tesla has designed newer strategies to meet its expectations. But its announcement also mentioned the Model Y, which shares the Model 3 platform.

Tesla claims this combination of higher peak power with V3, dedicated vehicle power allocation across Supercharger sites and a new feature called On-Route Battery Warmup (the auto will intelligently heat the battery to ensure you arrive at the optimal temperature to charge) will enable customers to charge in half the time-around 15 minutes in most instances.

Musk had stated that the mid sized SUV segment is the most popular and favourite worldwide. Pro-Tesla blog electrek called the business model changes a "chaotic situation", saying it was "either turning into what feels like an extremely poorly managed, haphazard transition or it is intentionally made that way to push out employees like some are suspecting".

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