Shanghai-built Tesla Model 3 to receive bigger batteries, range bump
Tesla’s entry-level and Long Range Model 3s will receive a bump in battery capacity and range. Price remains unchanged for the Australian market, and delivery dates are estimated to be 8-12 weeks away.
Tesla’s Model 3 (formerly known as “Standard Range Plus”) and Model 3 Long Range are set to receive a boost in battery size and official range estimates, as Tesla confirms the changes via its online configurator.
Eagle-eyed Tesla fans on tff-forum.de noticed that Tesla’s website source code listed a new option code for the battery - BTF1 - replacing the current BTF0 code. The new battery is now confirmed to be a 62.3 kWh (gross) Lithium Iron Phosphate (LiFePO4 or LFP) unit manufactured by CATL. The WLTP combined range figure is now 491 km (305 mi), up from 448 km (278 mi).
While this battery option is currently only available for Shanghai-built cars, it is expected to be rolled out to German-built Model 3s when Gigafactory Berlin comes online.
The Long Range variant hasn’t been forgotten, receiving a 10 percent bump in battery size from 75 kWh to 82 kWh. This means the WLTP range has increased to 614 km (382 mi), up from 580 km (360).
Tesla’s Australian website reflects changes to the Model 3 WLTP range.
The Long Range variant also receives an extended WLTP range according to Tesla’s website.
Both the Tesla Model 3 and Model 3 Long Range have slightly reduced 0-100 km/h times, at 6.1 seconds and 4.4 seconds respectively over the outgoing models. This is likely due to the larger mass of the new battery packs.
Tesla’s Australian website is quoting a delivery time of 8-12 weeks. If that sounds like too long to wait, consider buyers in Canada and the United States, who are currently quoted a delivery time of June 2022 for US-built cars. No changes have been made to the Model 3 Performance, which retains its 80 kWh battery pack and 567 km (352 mi) WLTP range.
This minor changes make the Model 3 even more of a compelling package in Australia, when it comes to range and performance. Hyundai’s IONIQ 5 is available with 451 km (280 mi) WLTP range for $71,900, Kia’s Niro S provides a 455 km (283 mi) WLTP range for $62,590, and the soon to be launched Polestar 2 offers a 440km (273 mi) range for the $59,900 base model and 540 km (336 mi) range for the $64,900 Long Range variant.
What's the best electric vehicle under $80k on sale in Australia in October 2021?
Australian buyers now have eleven battery electric vehicles to choose from below $80,000, from the likes of Tesla, Hyundai, Volvo, Kia and Mercedes-Benz. How much do they cost, and what do you get for your money? Which is the EV Brief pick?
From the stalwart Nissan Leaf to Hyundai’s latest IONIQ 5, there’s a great range of battery electric vehicles available in Australia under $80,000.
Most will agree that electric vehicles in Australia are still expensive when compared to their petrol and diesel equivalents on an upfront cost basis, but this difference quickly evaporates over the total ownership period. The upfront purchase price has slowly been falling over the last few years however, as the EV market is becoming more competitive by the month in Australia. With an increasing number of rebates and concessions available across the Australian states and territories, incentives are there for buyers to jump into a BEV, and reduce their initial outlay. Stamp duty is waived on EVs in the Australian Capital Territory (ACT) and in New South Wales (NSW), while rebates will soon be available in Victoria, Tasmania and NSW up to a set cap of total EV registrations.
So where should your money go if you’re in the market for an electric vehicle in 2021? We’ve set an $80,000 top end limit for this list; Australia’s average annual income is around $90,000 a year, and 19 of the 47 EVs on sale in this country are priced between $40,000 and $80,000 MSRP, accounting for the majority of zero-emissions vehicle sales. Scroll down to see all the models available (in alphabetical order), and which car tops our list.
Hyundai Ioniq
Hyundai’s Ioniq Electric has led the brand’s EV charge since 2017. Image: Hyundai Australia
| Price | From $49,970 |
|---|---|
| Battery Size | 38.3 kWh |
| Range (WLTP Combined) | 311 km |
| Efficiency | 13.8 kWh/100km |
| 10-80% Charge Time | 47 minutes |
| Power/Torque | 100 kW/295 Nm |
Hyundai’s Ioniq Electric sedan (not to be confused with the latest IONIQ 5) is the grandfather of this list, and despite a facelift in 2020 jazzing up the exterior styling, the Ioniq Electric is still a little bland, lacking the chutzpah and in-car technology of rivals. That’s not to say the Ioniq Electric is a dud; While it may “only” have a 38.3 kWh battery, Hyundai’s engineers have wrung respectable performance and efficiency out of this car, with a 0-100 km/h time of 9.7 seconds, a WLTP range of 311 km, a real-world range of closer to 273 km, and an energy consumption figure of 13.8 kWh per 100 km. It features a no-nonsense cabin, with good interior quality, and in all honesty, would perfectly suit the needs of a driver who wanted an urban runabout with no emissions. Priced from $49,970, The Ioniq Electric Elite is the second-cheapest EV on sale in Australia, behind MG’s $40,990 ZS EV. For your money, you get a 10.25” touchscreen infortainment system, 16-inch alloy wheels, DAB+ digital radio, parking sensors with reversing camera, Infinity premium audio system, smartphone mirroring, and a smart key with push button start. Hyundai offers a 5 year/unlimited km warranty, and an 8 year/160,000 km battery warranty.
Hyundai IONIQ 5
Hyundai’s IONIQ 5 has just landed in Australia, and there’s nothing like it on the roads. Image: Hyundai Australia
| Price | From $71,900 |
|---|---|
| Battery Size | 72.6 kWh |
| Range (WLTP Combined) | 451-430 km |
| Efficiency | 17.9-19 kWh/100km |
| 10-80% charge time | 18 minutes |
| Power/Torque | 160 kW/350 Nm - 225 kW/605 Nm |
The IONIQ 5 represents the latest and greatest in terms of design and technology. With the Australian public able to order the IONIQ 5 from October 12, This chunky retro-SUV — the first vehicle from Hyundai to be based on the new E-GMP modular architecture — makes a bold style statement, and is perfect for drivers looking to stand out from the hoards of Tesla Model 3s in the inner city. Priced from $71,900 for the 160 kW/350 Nm rear-wheel drive variant, the IONIQ 5 features a 72.5 kWh battery pack, and clever electrical architecture that allows the car to charge from 10-80 percent in just eighteen minutes on a 350 kW DC fast charger. WIth a huge wheelbase, “zero gravity” seats, a spacious interior and V2L — the ability to power household devices through the car — The IONIQ 5 deserves your consideration. While 2021’s initial allocation for Australia is already sold out, we expect Hyundai to announce 2022 stock later this year. Read more of our IONIQ 5 coverage here.
Hyundai Kona Electric
Hyundai’s Kona Electric is a fun, fast electric crossover with style and performance, but lacks cargo carrying capacity.
| Price | From $62,000 |
|---|---|
| Battery Size | 39.2 kWh - 64 kWh |
| Range (WLTP Combined) | 308km - 485 km |
| Efficiency | 14.3 -15.4 kWh/100km |
| 10-80% charge time | 50 min (SR), 44 min (ER) |
| Power/Torque | 100-150 kW/395 Nm |
The Kona Electric compact SUV is a familar sight on Australian roads, and the electric variant underwent a facelift earlier this year. While the Kona isn’t the most spacious small SUV, it’s contemporary styling, great performance, and 5 year/unlimited kilometre warranty make it a compelling option for those partial to an elevated driving position. Unfortunately the interior of the Kona wasn’t afforded the same refresh as the exterior, with a slightly dated feel, but the Kona is a comfortable place to be, and offers a digital instrument cluster, Android Auto and Apple Carplay, and features like heated and cooled seats, LED headlights and a head up display on the top-spec Highlander model. Hyundai’s Kona Electric is impressively accurate with its range estimates too; you’ll have no problems squeezing 400 kilometres of driving out of this 64 kWh battery. Hyundai has also just launched an entry-level 39.2 kWh model, giving buyers the option of a 308 km range Kona Electric for $54,500 plus on road costs.
Kia Niro Electric
The Kia Niro EV is a competent all-rounder with plenty of space and excellent on-road dynamics.
| Price | From $62,590 |
|---|---|
| Battery Size | 64 kWh |
| Range (WLTP Combined) | 455 km |
| Efficiency | 14.9 kWh/100km |
| 10-80% charge time | 45 minutes |
| Power/Torque | 150 kW/395 Nm |
Kia’s Niro EV drives and performs much the same as its sister from the Hyundai family, but with a longer wheelbase and body, the Niro Electric is more suitable as a family hauler. Though buyers must sacrifice a bit of style for this pragmatic crossover, The Kia is capable and offers enough space for a young family. We found the ride to be a bit firmer than that of the Kona Electric, But the interior is still a comfortable place to be. Two models are available; a Niro EV S and an EV Sport. Both offer the same 150 kW/395 Nm motor of Hyundai, and bettering Hyundai, the Niro EV comes with a 7 year unlimited kilometre warranty, and an 8 year battery warranty. Check out our review of the Niro EV here
Mazda MX30 E35 Electric
Mazda’s MX30 E35 Electric is a design-driven crossover, but with limited range and an asking price of $65,490.
| Price | From $65,490 |
|---|---|
| Battery Size | 35.5 kWh |
| Range (WLTP Combined) | 200 km |
| Efficiency | 15.0 kWh/100km |
| 10-80% charge time | 42 minutes |
| Power/Torque | 107 kW/271 Nm |
Mazda’s MX30 is a bit of an odd one; with a smaller battery capacity than all vehicles in this list bar Mini’s Electric city car, its 200km range and $65,490 price will likely relegate it to a niche product (within an already niche segment). It’s not all bad news though; if one is willing to stump up this cash, one will discover a very design-focused compact crossover, brimming with Mazda DNA, technology, and cool details. In fact, Mazda sees most buyers for the MX30 will be fans or current owners of the brand. Is that confidence in its product positioning? Or acceptance of limited consumer interest? Truth be told, the 200km WLTP range of the MX30 is probably enough for most Australians’ commutes and errands for a few days, but we can’t help but think this small battery offering would be much more compelling close to the MG ZS EV’s price point. And don’t mention the reverse-opening rear door. Mazda offers a 5 year/unlimited km warranty in Australia, and an 8 year/160,000km battery warranty.
Mercedes-Benz EQA 250
The Mercedes-Benz EQA 250 should attract well-heel buyers, and encourage more to dip their toes into the world of EVs.
| Price | From $76,800 |
|---|---|
| Battery Size | 79.8 kWh |
| Range (WLTP Combined) | 398 km |
| Efficiency | 15.6 kWh/100km |
| 10-80% charge time | 30 minutes |
| Power/Torque | 140 kW/375 Nm |
The EQA from Mercedes-Benz is a charged-up version of the petrol-engined GLA, and is similarly sized to Hyundai’s Kona Electric and Kia’s Niro EV with a 2,729mm wheelbase. Unfortunately, the EQA is a bit of a porker, tipping the scales at 2,040kg. This results in a relaxed 0-100 km/h time of 8.9 seconds, but the 375 Nm of torque should still provide ample get-up off the traffic lights. It carries the distinctive Mercedes-Benz EQ design DNA quite well, though we’d much rather an electrified A-Class than a high-riding crossover. While the design is quite restrained, that dinner plate-sized emblem and gloss-black front will command attention. On the inside, It’s typical Germanic quality, with the EQA carrying over Mercedes’ twin-screen MBUX dashboard. Mercedes-Benz now offers a 5 year/unlimited km warranty in Australia, and an 8 year/160,000 km battery warranty.
MG ZS EV
The MG ZS EV is a great looking EV bargain, priced from $40,990. Image: MG Australia
| Price | From $40,990 |
|---|---|
| Battery Size | 44.5 kWh |
| Range (WLTP Combined) | 263 km |
| Efficiency | 18.6 kWh/100km |
| 10-80% charge time | 50 minutes |
| Power/Torque | 105 kW/353 Nm |
The MG ZS EV is a real headline grabber in the Australian EV market; sure, it is a compact crossover like the Hyundai Kona Electric, and “only” offers 263 km WLTP range, but it holds the crown for cheapest battery electric vehicle on sale in Australia, priced from $40,990. MG Motor is a subsidiary of Chinese automotive behemoth SAIC, and has surprised many with the quality, refinement and engineering of its vehicles, despite the attractive entry prices. The ZS EV includes limited information on charging and efficiency for those of us EV nerds, but offers many creature comforts, including an 8-inch touchscreen infotainment system with phone mirroring, heated front seats, parking sensors with a reversing camera, 17-inch alloy wheels, a panoramic sunroof, adaptive cruise control with stop-go functionality and more. It also offers a five star Euro NCAP rating, with active safety systems including forward collision waring with autonomous braking, lane keeping/lane departure assist, and rear cross traffic alert. Sadly, the ZS EV still features halogen headlights; an odd cost saving measure when LEDs are far more efficient in the lighting department. The ZS EV also charges at 50kW peak rate, taking 45 minutes to reach 80 percent charge. MG Motor Australia offers a seven year/unlimited km warranty across its vehicle range, which also covers the lithium ion battery.
Mini Electric
Mini’s Electric combines the style and refinement of the Mini range, with a battery electric drivetrain. Image: Mini Australia
| Price | From $54,800 |
|---|---|
| Battery Size | 32.6 kWh |
| Range (WLTP Combined) | 233 km |
| Efficiency | 15.6 kWh/100km |
| 10-80% charge time | 28 minutes |
| Power/Torque | 135 kW/270 Nm |
What’s not to like about an electric Mini? Combining the style and quality associated with BMW’s retro hatch with an electric drivetrain is a great concept, and while the Mini Electric is a fine car, it’s not all the EV it could have been.
Rather than a dedicated electric vehicle platform and drivetrain, BMW has chosen to retrofit the BMW i3 drivetrain and battery into a Mini body, resulting in a car that quite literally uses yesterday’s technology. While not awful, the Mini is hamstrung by its price of $54,800. It’s not a cheap city car, but only offers a WLTP range of 233km from its 32.6 kWh battery supplied by CATL. The Mini tops out 50 kW when DC fast charging, so it’ll take a good 30 minutes to charge from 10-80 percent. It’s a little tubby for a Mini too at 1,440 kg, but still offers a 0-100 km/h time of 7.3 seconds thanks to its 135 kW 270 Nm front-mounted motor.
For the money, you do get a choice of five colours, a choice of 3 different 17 inch alloy wheel designs, rear view camera with parking assistant, LED headlights, wireless Apple Carplay and MINI navigation, a digital radio and home charging cable.
We’re sure the Mini Electric will still have a cabal of fans in Australia — those who must have the classic Mini style in a zero-emissions package — but those fans will have to have overlooked more spacious and more efficient EVs with better performance in the name of style. Mini offers a 3 year unlimited km warranty on the Electric model in Australia.
Nissan Leaf/Leaf e+
The Nissan Leaf has been the inspiration for many battery electric vehicles, and now comes in two variants. Image: Nissan Australia
| Price | From $49,990 |
|---|---|
| Battery Size | 40-62 kWh |
| Range (WLTP Combined) | 270 - 385 km |
| Efficiency | 13.3-14.5 kWh/100km |
| 10-80% charge time | 52 minutes |
| Power/Torque | 110 kW/320 Nm - 160 kW/340 Nm |
The Nissan Leaf is of course the stalwart of the electric vehicle scene in Australia. Loyal, dependable, always in the background of electric vehicle media announcements and launches, without ever really capturing much attention (or many sales). It’s style is driven by practicality — good aerodynamics, visibility and interior cabin space/comfort are the basis for its uneventful design. Priced from $49,990 in standard guise, the Leaf offers 270 km WLTP range from its 40 kWh battery. Buyers can upgrade to the Leaf e+ for $60,490, upping the WLTP range to 385 km from a 62 kWh battery. This provides similar usability to a Tesla Model 3 for the price. Unfortunately for the Leaf, Nissan has stuck with an older air-cooled battery design, rather than opting for liquid cooling. This ultimately affects the longevity of the Leaf’s batteries, as stable thermal management is key to long-term durability. The Leaf range also takes around 52 minutes at a rate of 50 kW to charge, utilising the CHAdeMO Japanese plug. While CHAdeMO is still found at most DC chargers, the Combined Charging System (CCS) plug seems to be the standard most manufacturers are adopting. Nissan Australia offers a 5 year/unlimited km warranty with the Leaf, and an 8 year/160,000 km warranty on battery defects.
Tesla Model 3 Standard Range Plus/ Long Range
Tesla’s Model 3 is a competent all rounder, priced from $59,990. Image: Tesla
| Price | From $59,900 |
|---|---|
| Battery Size | 55-82 kWh |
| Range (WLTP Combined) | 440-567 km |
| Efficiency | 14.2.-16.5 kWh/100km |
| 10-80% charge time | 25-34 minutres |
| Power/Torque | 211 kW/375 Nm - 420kW/660Nm |
The Tesla Model 3 doesn’t need much introduction; It’s the wunderkind of the Tesla range, single-handedly driving sales and revenue for the US automaker, and familiarising millions of people with battery-electric vehicles at the same time. The price of the Model 3 range has fallen since its introduction to Australia in 2019, and both the Standard Range Plus ($59,990 MSRP) and Long Range ($73,400 MSRP) make our sub-$80k list. They offer 440 km and 567 km of WLTP rated range respectively, more performance than you really need, and Tesla’s trademark spartan interior. While the Model 3 does have a steep learning curve, we feel the trade-off is a net positive for drivers; one of the best user interfaces in the business, seamless vehicle control from your mobile phone, allowing you to schedule charging, check vehicle status, and set the cabin temperature, constant over-the-air (OTA) updates, and a supercharger network (in Australia and globally) that provides peace of mind on any road trip. Tesla offers a 4 year/80,000 km warranty in Australia, alongside an 8 year/240,000 km battery warranty. You can check out our full review here.
Volvo XC40 Electric
Volvo’s XC40 Recharge is a 300 kW family SUV. Image: Volvo UK
| Price | From $76,990 |
|---|---|
| Battery Size | 78 kWh |
| Range (WLTP Combined) | 400 km |
| Efficiency | 28.8 kWh/100km |
| 10-80% charge time | 33 minutes |
| Power/Torque | 150 kW/330 Nm |
300 kW of power and 650 Nm of torque from Volvo’s XC40 Recharge SUV. Let that sink in for a moment. Volvo’s most powerful car, well, ever is a 2 tonne-plus family SUV that hits 100 km/h in 4.9 seconds. There’s only one drivetrain and battery choice, pairing a 78 kWh battery with twin electric motors and all wheel drive. Volvo states a WLTP combined range of 418 km, and the XC40 Recharge can charge at 150 kW maximum speed. Although there’s little to differentiate the all electric XC 40 from its hybrid and petrol siblings, that’s also a good thing; inside you’ll find Volvo’s usual high quality interior, equipped with the new Android Automotive infotainment system (shared with the Polestar 2), keyless entry and start, LED headlights, digital radio and satellite navigation, and heated seats all round. There’s autonomous front and rear emergency braking, adaptive cruise control, rear cross-traffic alert and hill descent control. Priced from $76,990, we think it’s pretty good value considering inclusions and performance, and while the XC40 design is familiar, it is certainly aging well. Volvo offers a five year/unlimited km warranty in Australia, and an eight year battery warranty.
Verdict
In our eyes — although not necessarily the vehicle that the EV Brief family would purchase — Tesla’s Model 3 in Standard Range + guise is a compelling package that offers performance, technology, efficiency, range and practicality, all at a comparatively reasonable price. Starting from $59,900 MSRP in Australia (around $64,000 drive away) the Model 3 is a spacious family sedan with 400km real-world range that provides an ownership experience sure to convince Australians that the future is electric. In fact, we’d argue the Model 3 has already achieved price parity in its market segment when comparing it to similarly equipped entry-level cars from the likes of BMW and Audi; It’ll cost you around $70-75,000 to get into a BMW 330i or Audi A4 45 TSI.
The impression of good design, value, and practicality are all incredibly subjective when it comes to the automobile of course, hence why there is so much choice for consumers at the moment. While the Mazda Mx-30 or Hyundai Kona Electric may offer little to die-hard Tesla fans, there are others who will be charmed by the design, features and driving experience on offer from the Japanese and Korean brands.
Tesla’s Model 3 does however do everything so well, and as the poster child of the electric vehicle age, should inspire confidence in battery-propelled technology for those looking to transition from ICE vehicles. Tesla Model 3 owners have access to DC rapid chargers across Australia from companies like Evie, Chargefox, and the NRMA, but crucially they also have access to Tesla’s brilliant proprietary (for now) plug-and-play Supercharger network, with around 43 Australian sites at the time of writing.
For those unfamiliar, the latest Tesla Superchargers can add around 120 km (75 miles) of range in five minutes from a low state of charge, and are linked to a Tesla owner’s account, meaning that there’s no signing up to charging apps or paying with credit cards. If your car is eligible to charge on the network, it will perform a ‘handshake’ with Tesla’s charging software and the juice will start flowing in seconds.
Which other vehicles should be on my EV shopping list?
The Polestar 2 will hit Australia in January 2022. Image: Polestar
Kia’s EV6 will rival the likes of Tesla’s Model 3 and Hyundai’s IONIQ 5. Image: Kia Motors.
Although Polestar Australia has released pricing for the upcoming Polestar 2, we’ve excluded it from this article as customer vehicles won’t be available until January. Big things are expected from Chinese brand BYD, as Australian importer Nexport readies a raft of models. The e6 minivan has landed in Australia, but at this stage is only a low-volume import. BYD’s Dolphin hatchback is expected to be released in Australia in 2022. Kia’s EV6 will also be one to consider; look out for more information on this vehicle towards the end of 2021. The Lexus UX 300 e is expected to launch in Australia this November, and we think it will be priced competitively against the Volvo XC 40 Recharge and Mercedes-Benz EQA 250.
For more information on battery electric vehicles on sale in Australia, check out our spreadsheet here
Tesla posts record net income, revenue up 73%, record net profit of $438 million
Tesla has had a stellar first quarter of 2021, beating earnings expectations from Wall Street analysts. The automaker posted US$10.389 billion in revenue, up 73 percent YoY from $5.985 billion in Q1 2020, and just behind the figure of $10.744 billion for Q4 2020 as well as non-GAAP earnings per share of $0.93.
Tesla’s Model X and Model S are set for a refresh in 2021. Image: Tesla Motors
Tesla has had a stellar first quarter of 2021, beating earnings expectations from Wall Street analysts. The automaker posted US$10.389 billion in revenue, up 73 percent YoY from $5.985 billion in Q1 2020, and just behind the figure of $10.744 billion for Q4 2020, and the company also announced non-GAAP earnings per share of $0.93.
GAAP earnings are used to standardise financial reporting of large, publicly-traded companies, and non-GAAP earnings constitute items like large asset write-downs, one-time transactions or company restructuring costs.
Tesla reported record net profit of $438 million for the seasonally slow quarter (GAAP), as well as sales of regulatory credits to the tune of $518 million. Operating income came in at $594 million, resulting in a 5.7% net operating profit.
According to the company, quarter-end cash and cash equivalents decreased to $17.1B—still a huge pile of cash—in Q1, “driven mainly by a net cash outflow of $1.2B in cryptocurrency (Bitcoin) purchases, net debt and finance lease repayments of $1.2B, partially offset by free cash flow of $293M.”
Tesla has been growing its vehicle sales to the tune of 100% YoY, and according to Elon Musk, the Model Y SUV is likely to become the best selling vehicle on the planet within the next few years. Tesla investor David Lee has some interesting figures should the automaker manage to achieve 500,000 deliveries a quarter, demonstrating that this could potentially net Tesla $22.5 billion in revenue, and $5.6 billion in gross profit.
Tesla will obviously have a lot of expenses over the next few years; the completion of Gigafactories in Berlin and Texas, scaling up production of its new 4680 cells to deal with the incredible demand for batteries and rolling out more Supercharging sites, service and sales centers and mobile technicians to name a few. We have full confidence in Tesla; partly due to its year over year profit and increasing sales volume, but also due to the untapped potential of its energy business.
Tesla has the ability to make Tesla Energy almost as big as its automotive business in our view. The company deployed 92 MW of solar in Q1, up 163% from 35 MW in Q1 2020. It also deployed 445 mWh of energy storage, up 71% from 260 mWh in Q1 2020.
Tesla’s financial summary for Q1 2021. Source: Tesla
Tesla’s operational summary for Q1 2021.
Source: Tesla Motors
Tesla posts record Q1 production and delivery results, almost exclusively from Model 3 and Model Y
In the first quarter of 2021, Tesla produced 180,338 vehicles and delivered 184,800 vehicles. That’s a record for what is traditionally a quiet quarter, and represents a 76 percent increase from 102,672 vehicles, and a nine percent increase from 88,400 vehicles produced and delivered respectively in the first quarter of 2020.
In the first quarter of 2021, Tesla produced 180,338 vehicles and delivered 184,800 vehicles. That’s a record for what is traditionally a quiet quarter, and represents a 76 percent increase from 102,672 vehicles, and a nine percent increase from 88,400 vehicles produced and delivered respectively in the first quarter of 2020.
These results also eclipsed the fourth quarter of 2020—traditionally a strong quarter—where Tesla produced 179,757 vehicles and delivered 180,570 vehicles.
Looking at the numbers above, the Model S and X contributed just over one percent of deliveries to Tesla’s Q1 2021 results, due to the fact that production ceased late last year as production lines are set up and retooled for the refreshed Model S and Model X Long Range, Plaid and Plaid+ due to launch this year. in the fourth quarter of 2020, Model S and Model X sales comprised approximately 10% of total vehicles produced and delivered. Years ago, critics mocked Elon Musk when he stated that Model S and Model X sales are “not all that important” in the long term.
Tesla’s Semi, likely to be introduced in 2022. Image: Tesla Motors
Despite strong forward demand for the revised Model S and Model X ranges, it’s now clear that Musk’s plan is coming to fruition; the more affordable Tesla Models are indeed contributing to the bulk of production and delivery numbers. China’s Gigafactory has been ramping up production over the last few months, and strong demand for Model Y in both China and in North America has clearly been a winner for Tesla.
With the installation of the Gigapress die-casting machines in Tesla’s factories, the company is able to realise even greater efficiencies in production, and maintain production to meet demand. 2021 will be an interesting year for Tesla; there’s the refresh of the Model S and X which will increase premium category sales and boost profitability, Both the Texas and Berlin Gigafactories are set to come online, Shanghai is expanding, and there is talk internally at Tesla that one million vehicles produced and delivered might be achievable.
Source: Tesla Motors
Westport CT's Tesla Model 3 police cruiser - one year and 13,000 miles later
Westport Police purchased the first EV in Connecticut for active police duty in 2019, and while the COVID-19 pandemic has seen the car travel less than the department had been expecting, the Tesla Model 3 Long Range dual motor variant has now covered 13,000 miles (21,000 kilometres).
Westport Police purchased the first EV in Connecticut for active police duty in 2019, and while the COVID-19 pandemic has seen the car travel less than the department had been expecting, the Tesla Model 3 Long Range dual motor variant has now covered 13,000 miles (21,000 kilometres).
Police Chief Foti Koskinas happily gave a tour of the vehicle and update regarding its service at last weekend’s EV Freedom event in Westport. Chief Koskinas stated in the video that the Model 3 police cruiser has used about US$600 worth of electricity over 13,000 miles, and that they’re already way past break even with this car on the fleet.
While the Model 3 police cruiser is only used for traffic duties—excluding prisoner transport at this stage—Chief Koskinas stated that the car is capable of performing two 8-hour back to back shifts without requiring a charge.
The rear compartment is perfectly sized to hold emergency equipment, handguns and larger firearms, while the front trunk or “frunk” is a very convenient storage option for emergency medical equipment.
The rear of the Model 3 is spacious enough for police equipment and firearms. Screenshot: Paul Braren on YouTube
There are a number of benefits in choosing Tesla for police duties; namely the built in cameras can be adapted for police use, rather than having to retrofit thousands of dollars worth of external cameras. Antennas and radio equipment can be easily incorporated into the vehicle’s frame and glass roof, giving the Tesla Model 3 police cruiser a very clean look.
The only drawback according to Chief Koskinas is that the headlights will switch off after 45 seconds upon stopping the vehicle, which is unsuitable for police duties. He stated that Tesla is working with the department to recode this however.
The frunk of the Tesla Model 3 stores medical equipment. Screenshot: Paul Braren on YouTube
Electric vehicles have huge benefits to police departments in terms of running costs, but there are also benefits to officer health, ease of operation, flexibility in customisation, reducing emissions and of course on-road performance. While municipal and state governments across the world have been a little hesitant at adopting battery electric vehicles, mainly due to issues around range performance, we’re certainly seeing the tide changing; Thai police have a number of Tesla Model 3’s on their fleet, Freemont, CA has run a successful trial with a Tesla Model S, and, Closer to home, Victoria, Australia has a Tesla Model X for highway patrol duties while the New South Wales Police has recently taken delivery of a Hyundai Kona Electric.
Source: Paul Braren on YouTube
Tesla looks to officially commence Singapore operations; Model 3 available to order
Tesla looks to be gearing up for a launch of operations in Singapore this year, with multiple roles in retail, service, parts and customer service advertised on the company’s website as at 25 January 2021. Also visible on the website’s charging location search page is a marker over Singapore showing that a Supercharger site is planned, but that the “Target opening date [is] to be confirmed”, and that “Timing and location subject to change”.
Tesla looks to be gearing up for a launch of operations in Singapore this year, with multiple roles in retail, service, parts and customer service advertised on the company’s website. Also visible on the website’s charging location search page is a marker over Singapore showing that a Supercharger site is planned, but that the “Target opening date [is] to be confirmed”, and that “Timing and location subject to change”.
Note that many reputable news sources are reporting Singapore’s first Supercharger is likely to be located exactly on the pin; that is at the Singapore Island Country Club. Our take is that this is a general location marker, and Tesla would be unlikely to place the company’s first rapid charging site within the grounds of a private club, off limits to the public.
Tesla’s website shows that Singapore is a planned future Supercharging location.
The Tesla model 3 can also now be ordered in Singapore, in Standard Range Plus and Performance specifications. Tesla’s website quotes a date of “mid 2021” for deliveries of either model, and is available from SG$S112,845 (SR+) and SG$154,845 (Performance), excluding Certificate of Entitlement (COE) which can cost between SG$40-50,000 at today’s rates. The COE gives vehicle owners the right to own and operate a vehicle for ten years, and is purchased through an open bidding system, though if you purchase a new vehicle, the dealership generally handles the acquisition of the COE.
Tesla’s Model 3 is eligible for significant government concessions in Singapore.
Interestingly, Tesla’s website shows that the Model 3 is eligible for two sizeable discounts on the country’s Additional Registration Fee (ARF). There’s a SG$20,000 EV early adopter incentive, and a SG$20,000 Vehicle Emissions Scheme (VES) rebate. These discounts make the Model 3 incredibly competitive with other sports sedans in the market.
At this stage, The revised Model S and Model X remain off limits for Singaporeans to order.
Although Tesla’s CEO Elon Musk has, in the past been rather uncomplimentary of the Singaporean Government’s attitude towards not only electric vehicles generally but his company, Singapore now has a mandate to eradicate internal combustion engined vehicles on its roads by 2040. This government support means that Singaporeans will soon have not only policy certainty around zero emissions vehicles, but an increased rollout in charging infrastructure, as well as potential rebates on the cost of vehicle registration.
Tesla’s Model 3 will be available to Singaporeans by mid-2021.
Reducing vehicle emissions will be crucial in achieving the island-state’s overall goal of peak emissions of 33 million tonnes by 2050, given the heavy reliance on gas, coal and oil for energy. There are about 600,000 privately owned cars on the road in Singapore, with EVs numbering about 1,100 (that’s only 0.18%).
With the zero emissions mandate, recently raised petrol duties, no minimum registration fee and the 10 year validity of the mandatory Certificate of Entitlement, some analysts are predicting that Singapore has the potential to produce a market for a minimum of 50,000 electric vehicle sales per annum.
Sandy Munro Evaluates the Engineering behind the latest 2021 Tesla Model 3
In his down-to-earth yet comprehensive way, Chief Executive Officer Sandy Munro of Munro and Associates has purchased a 2021 Tesla model 3, and proceeded to look under the skin to show us the engineering improvements from the company.
In his down-to-earth yet comprehensive way, Chief Executive Officer Sandy Munro of Munro and Associates has purchased a 2021 Tesla model 3, and proceeded to look under the skin to show us the engineering improvements from the company.
Munro looks at the front trunk or “frunk”, and demonstrates big improvements in design, moulding shape and in the plenum intake. He also takes a look at the company’s improvements in terms of cost savings on unnecessary clips and plastic pieces, and he seems impressed with Tesla’s Octovalve, now named “super manifold”, and overall, in terms of the engineering at least, Munro says that he can’t find any fault under the body panels, and that Tesla’s design and build of core components is excellent.
It’s not all roses and sunshine however, as even on this latest iteration of the Model 3, Sandy Munro finds inconsistency in panel gaps from one side of the vehicle to the other. For all the advanced engineering in the Model 3, Sandy remarks that consistency in production quality is something that Tesla should be able to easily achieve, so why are cars still having issues?
Tesla Closes 2020 with a Record Q4 and 500,000 Vehicles Delivered
Tesla delivered 499,500 vehicles for the 2020 calendar year, and produced 509,737 vehicles. That’s almost 10x the production output from 2015. Many Wall Street analysts dismissed Tesla’s 500,000 unit goal for the year, as the onset of COVID-19 impacted the automaker’s production facilities around the globe…
Freemont Outbound Delivery Lot - Image: Tesla
Tesla delivered 499,500 vehicles for the 2020 calendar year, and produced 509,737 vehicles. That’s almost 10x the production output from 2015. Many Wall Street analysts dismissed Tesla’s 500,000 unit goal for the year, as the onset of COVID-19 impacted the automaker’s production facilities around the globe, and negatively affected sales across the broader passenger car market.
Image: Tesla
Five years ago, the company’s CEO Elon Musk emphasised a plan to reach a delivery target of 500,000 vehicles per year by 2020. At the time, this number seemed overly ambitious, as production difficulties, cashflow troubles and quality concerns seemed to be the most interesting stories to the media.
After a string of profitable quarters, successful launch of the Model Y and massive capital expansion, 2020 culminated in Tesla’s listing on the S&P 500 index, and a massive push to increase production by year end.
Tesla produced 179,757 vehicles and delivered 180,570 vehicles in Q4, up 42 per cent and 36 per cent respectively on Q4 2019 numbers. In Q3 2020, Tesla produced 145,036 vehicles and delivered 139,300 vehicles.
Elon Musk took to Twitter to mention the thousands of employees who contribute to Tesla’s continued success:
Investors and the majority of analysts have been very bullish on Tesla at the end of 2020, and the stock has surged past $705 US per share as at market close on December 31. Despite this, The New York Times, amongst other media outlets still falls into the trap of labelling Tesla as an “upstart automaker [that] will probably face stiffer competition in 2021.”
While its true Tesla has ongoing customer service and quality issues to address, and a huge amount of work ahead to continue to scale to meet future production and delivery targets, it’s dangerous to not see Tesla for what it now is; an energy company with the best automotive software on the market, and likely the best electric vehicles available today.
We can expect the full Q4 and calendar year 2020 earnings to be reported in late January or early February.
Tesla End of Year Wrap Up
The electric vehicle market is booming, despite COVID-19 putting the brakes on the auto industry generally. Of course Tesla has become a darling of investors, with the company seeing a 50% share price increase since the announcement in early November that the automaker was entering the S&P 500.
The electric vehicle market is booming, despite COVID-19 putting the brakes on the auto industry generally. Of course Tesla has become a darling of investors, with the company seeing a 50% share price increase since the announcement in early November that the automaker was entering the S&P 500. Not since Yahoo and the dot com boom in the late nineties have we seen such confidence in the future of a company.
Tesla isn’t one to slow down for the holiday season, and with a final production and deliveries push expected, Gigafactories across the world under construction, charging infrastructure and vehicle updates, we look at the news this week, and what we can expect to see in the new year.
Sales & Deliveries
North American and European sales of Model 3 and Y remain strong, and the company has apparently met (admittedly low) Model S and X targets for the year, and has halted production for these vehicles.
Tesla sales are strong in China, and this is the market that will help push Tesla to its 500,000 unit goal in 2020. Indeed, many analysts and commentators believe Tesla will surpass this target. With over 20,000 ‘made in China’ Model 3s sold in November, that demand looks set to continue through December, just as the Model 3 was recently awarded Number 1 electric vehicle in China by owners in a recent Net Promoter Score (NPS) index survey. Any concerns around battery availability have subsided, as Tesla’s Chinese production recently moved to lithium iron phosphate (LFP) batteries from supplier CATL.
In Q4 2019, Tesla delivered 112,000 vehicles. Tesla has been ramping production in Q3 and Q4, and Rob Maurer of Tesla Daily has projected just over 24,000 units of Model 3 in production from Giga Shanghai in December. His other projections include:
53,000 Model Y units produced in Q4;
58,000 Model 3 units produced in Q4;
19,000 Model S and X units produced in Q4;
530,000 total units produced in 2020
Tesla needs 181,000 deliveries worldwide to achieve the 500,000 unit annual target. Watch Tesla Daily’s Q4 prediction video below:
Factories
As was expected, construction of Giga Texas is powering forward, with the skeleton and roof of the facility already under construction, and the first phase of the project due for completion in 2021.
Over in China, Tesla completed the Model 3 and Model Y production lines in record time, and new single-piece body castings have been spotted at the factory, suggesting Tesla’s new ‘Gigapress’ casting machines are now online.
Tesla certainly isn’t resting though, and it appears the company is continuing to expand the production facility east of the current footprint:
Meanwhile, over in Germany, Giga Berlin is also charging full steam ahead, with ‘Gigapress’ casting machines arriving at the factory, and external walls being erected, despite a number of hold ups due to permits, environmental concerns and missed payments. Again, Tesla is expected to commence operations on time if not earlier, with production tests due for July 2021, some 13 months after construction on the site began.
FSD pricing and updates
Tesla’s autonomous Full Self Driving package is set to become a cash cow for the company, with the billions in R&D dollars spent set to be recouped over the next few years. Previously available as a stand-alone option before or after delivery for a cost of $10,000, Tesla announced 2021 will bring a subscription pricing model for owners who wish to pay for the option in instalments.
Tesla has also just released its holiday 2020 update, as part of Firmware 2020.48.25. There are some notable changes mentioned in the release notes including:
“The driving visualization has been refreshed and now offers a larger visualization to allow drivers to view more details of the road surroundings. The next turn will now appear above the visualization if the navigation turn list is covered by another app.”
“Schedule departure can now precondition your battery and cabin even when your car is unplugged. To account for different utility rate plans, you can now set the time when your off-peak rates end to save on charging costs. To access, tap SCHEDULE from the climate control or charging panel when parked.”
“Supercharger pins on your touchscreen will now display the number of available stalls at charging sites. Quickly search for nearby amenities by tapping an amenity icon on the Supercharger popup display.”
Teslarati has a full rundown of software changes listed here
Superchargers
Can electric vehicles from brands other than Tesla now charge at Tesla Superchargers? Not quite. Marques Brownlee asked Elon Musk on Twitter “Why don't more electric car makers take up Tesla on their offer to use the Supercharging network? Incompatible tech? Hidden fees? Pride? There's gotta be a good reason.” to which Elon Musk replied: “They are, although it’s kind (sic) low-key. Tesla Superchargers are being made accessible to other electric cars.”
Naturally, the internet went crazy, though you won’t see Porsche Taycan owners at a Supercharger any time soon. Tesla is focused on rolling out Superchargers for its customers, installing the high-speed Tesla-only chargers in more locations, and updating more Supercharger sites from 150kW version 2 models to 250kW version 3 models. Construction of Tesla's Supercharger factory in China appears to be ramping up too, and has a 10,000 unit per year production goal.
S&P 500 Inclusion
The big news this week is the inclusion of Tesla into the S&P 500 club; a move that many have signalled since Tesla achieved four straight profitable quarters in July this year. According to the Wall Street Journal, shares have surged some 70% since the announcement of the company’s addition in November.
Tesla’s listing on the stock market benchmark represents the biggest company ever to join the S&P 500, and its USD$650 billion market capitalisation figure means Tesla is the sixth largest publicly listed company in the United States.
1990 to 2020: Largest Companies Added to the S&P 500
Elon Musk appeared extremely grateful on Twitter, Tweeting on December 22 “Thanks to everyone who worked so hard to make Tesla successful. My heart goes out to you.”
Tesla is now the world’s most valuable automaker, with huge growth potential and some serious competitive advantages in the market place (more on that below).
The Street has just named Tesla as its ‘number one stock of the year’, with 12 of 16 panellists agreeing Tesla stood above Zoom Video, Moderna, Amazon and Netflix (numbers two to five respectively)
Image: The Street
What about Tesla Energy?
The growth of Tesla Energy is part of the reason many investors see so much future potential in the company; while solar and household battery growth has been slow over the last few years, Q3 and Q4 2020 were good quarters for the business, and Tesla energy looks to have generated around $1.85 billion in revenue for the 2020 calendar year.
According to The Motley Fool, During Q3 2020, Tesla shipped 759 megawatt-hours (MWh) worth of batteries, an 81% increase from Q2's 419MWh. That’s a higher rate of growth than Tesla’s automotive business, which saw shipments for Q3 at 139,593 units, a sequential increase of 54% over Q2's 90,650 units.
We can expect to see more grid-scale battery projects boosting the energy business in 2021; recently a number of large projects utilising Tesla Powerpack and Megapack technology have been completed, including Yorktown New York’s 490 MW Tesla battery, and an upgrade of an additional 50 MW added to the Hornsdale battery in South Australia. Construction commenced in October on the 182 MW (730MWh) Moss Landing battery in California, which consists of 256 Megapacks, and will be able to power every home in San Francisco for up to six hours according to Tesla.
Tesla Solar has been bubbling away for a few years now, and the company’s energy products have become on average 30% cheaper than the US average primarily due to their online business model. By reducing ‘soft costs’ or non-component costs of each system, customers are able to purchase customised packages that suit their homes, and can even pay off the installed system through a subscription program.
Many in the industry believe that Tesla Energy can generate revenue equal to that of the automotive side of the business, and that it’s just a question of scaling up production, and expanding subscription-based solar and battery systems outside the United States.
What else could possibly happen in 2020?
Well now that you mention it, according to Reuters, there’s a little something called ‘Project Titan’ that the Cupertino tech giant Apple is working on. It’s an electric vehicle that has been in the works since 2014, and part of the secret vehicle’s competitive advantage will apparently be a new battery design that could “radically” reduce the cost of batteries while maximising range.
Gene Munster from Loup Ventures doesn’t see Apple’s entry into personal mobility as a threat to Tesla’s market share; Munster stated that the firm believes traditional automakers are Apple’s target.
Loup Ventures predicts that electric vehicles will account for close to 30% of all auto sales by 2025, with one third of that market to be dominated by Tesla.
Elon Musk dropped quite the Tweet today, stating that during the company’s Model 3 design and engineering phase, he approached Apple to see if Tim Cook was interested in acquiring Tesla: “During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.”
How different the automotive and energy landscape could have been…
What’s in store for 2021
So what will next year bring? Like many investors (myself included), Tesla experts see exceptional growth for the company, based on strong demand for electric vehicles generally, and increasing market share in key markets such as China. Wedbush analyst Daniel Ives believes China’s demand dynamic in the EV market will disproportionally benefit Tesla, and that the Chinese market could account for over 40% of Tesla’s sales within eighteen months.
Gali from Hyperchange demonstrates that Tesla has already figured out how to build electric vehicles profitably, with a gross margin figure of 23 percent. He sees a lot more growth potential on a profit per car basis, as the company focuses on software, and begins to recoup costs associated with the research and development of the Full Self Driving software. Gali is projecting a gross profit amount of $2.5 billion for Q4 2020, $2.7 billion in cashflow, and he expects capital expenditure to increase to $4-$6 billion per year from 2021 as Tesla pours more money into factories.
Model Y sales and deliveries are expected to get off the ground early in 2021, and with the Cybertruck Gigafactory due for completion mid-year, 2021 could be the year that Tesla brings the first mass-market electric pickup truck to consumers.
Tesla also unveiled its new 4680 battery cells in September, and the new tabless cells are expected to offer exceptional thermal and electrical efficiency. These cells are expected to be at the core of Cybertruck and Semi performance and efficiency, and while Tesla has these cells currently deployed in prototypes, the company lacks a facility to manufacture them at scale.
One of Tesla’s main goals is terrawatt-hour (TWh), or one trillion watt hour scale battery production, and the company has a manufacturing goal of 3TWh by the year 2030. Elon Musk has also used Twitter to suggest Tesla may be able to manufacture 20 million vehicles a year by this date:
Clean Technica has an excellent article on Tesla’s future that delves deeper into the above, however any future light commercial vehicles from the company are notably absent. With Rivian, Arrival and other manufacturers seeing this segment as a growth market for EVs, I wouldn’t be surprised to find Tesla leveraging their expertise to manufacture delivery vehicles.
2020 has been a difficult year for the automotive industry, but I am cautiously optimistic that Tesla’s battery and vehicle roadmap will play out in their favour, and that we will continue to see the company scale and grow at a rapid rate. Say what you like about Elon Musk; Tesla is now much bigger than one man, and the company has driven the global automotive market rapidly towards electrification and zero emissions transportation.
