Tesla Motors faces important test with Model 3
Tesla Motors’ long-awaited Model 3 will be a “major test” for the Palo Alto-based electric car giant, according to industry analysts. On Friday, the Elon Musk-led e-car maker will deliver the $35,000 Model 3, which will be geared toward the middle-class. The company has thus far introduced three models, and not every model went well.
Bill Selesky, a senior analyst with Argus Research, said, “It’s a huge test. This is the vehicle that’s really going to define them with the mass audience, and they’ve really got to be very careful that what they put out there is what they said it was going to be.”
Heavy price tags of Tesla cars have thus far frustrated many. Many people have not been able to swing the price of Model S or Model X e-cars, as the cheapest version of the Model S cost a whopping $69,500.
However, the $35,000 Model 3 could change that. Tesla has a plan to expand past its status as a boutique carmaker, with the manufacturer planning to produce one million cars annually by 2020.
However, it should be noted that Tesla has failed to live up to its promise of delivering vehicles as per schedule. The demand for Tesla cars remains high but the company has to catch up on manufacturing side to deal with high demand.
IBM is using blockchain for improving speed and security for cross-border transactions. The solution offered by IBM is focused on banking sector.
Tesla Motors has fired hundreds of employees after annual performance review. The company confirmed the move but the management hasn’t mentioned the exact number of employees fired during the current performance review.
Tesla Motors has announced recall of 11,000 Model X vehicles to fix a seat cable issue. The voluntary recall involves Model X SUVs manufactured between October 28, 2016 and August 16, 2017.
Norway is planning to add additional tax burden on consumers planning to buy electric cars.
German government has raised the growth outlook for 2017 to two percent from earlier estimate of 1.5 percent. The growth outlook for 2018 has been raised to1.9 percent from earlier estimate of 1.6 percent.
The International Monetary Fund (IMF) has raised growth outlook for global economy considering stronger growth and signs of recovery in many key markets. However, the IMF forecast has raised doubts over growth in India and the United Kingdom.