"If you take out the features - and Tesla has taken out an awful lot of features - then that creates a new price point, but that new price point doesn't make it competitive with the Chinese competition, which are stacked with features,"
"The US needs electric cars that are well-specified for less than $30,000,"
"Tesla launched the Model 3 and Y Standard, which cost $37,000 and $40,000 respectively and come without features such as Autosteer, rear screens, and radios, last week."
"The lack of features and high price tags left some investors and fans underwhelmed, and Tesla's share price fell after the new models were revealed."
Tesla introduced Standard versions of the Model 3 and Model Y priced at $37,000 and $40,000 that omit features such as Autosteer, rear screens, and radios. Investors and fans reacted coolly and Tesla's share price declined following the reveal. Former Nissan COO Andy Palmer criticized the removals, saying the reduced-feature price point still cannot match Chinese rivals that pack more features. Chinese manufacturers are rapidly winning market share in Europe and elsewhere, though high US tariffs limit their direct competition in the United States. The US market needs well-specified electric cars priced below $30,000.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]