China-made Tesla Model 3 Units Sees Rise in Prices
Electronic vehicle maker, Tesla, sees a rise in Model 3 units after authorities slash its subsidies. Yesterday, the world’s biggest electric automaker had a 10% subsidy cut from the Chinese government, sending car prices up.
According to reports, the technology company will have an extension period of three months before fully lifting the subsidies.
Both types of the Model 3 unit have seen a price adjustment immediately after they lifted the subsidy.
The starting price for a China-made Standard Range Model3 sedan is now at 303,550 yuan or $42,900. The Stand Range’s previous price was around 299,050 yuan.
Meanwhile, the Long-Range Model 3 sedans will reportedly be priced at around 344,050 yuan. The said unit is to launch in June this year. They originally planned to price it at 339,050 yuan.
Technology news reports say that Tesla saw its China registrations rise dramatically as the restrictions in mainland ease. Sources say that car registrations jumped from just 2,314 in February to around 12,709 in March.
The subsidies will only apply to passenger car prices that are worth less than 300,000 yuan after the transition period. Reportedly, the Chinese government will cut subsidies by 20% in 2021 and 30% in 2022.
Due to the unforgiving virus, mainland China’s overall vehicle sales dropped by 42% in the first quarter of the year. But experts believe that it will immediately bounce back as Beijing promises more supportive measures to boost sales.
Revolutionary 1 Million-Mile Battery
Modern technology shifts faster than ever, and Tesla shows that it’s on top of the game. The company previously unveiled the jaw-dropping 1 million-mile battery which sent its stocks soaring then.
Now, the electronic car maker is patenting the “single crystal” NCA electrodes in its application “Method for Synthesizing Nickel-Cobalt-Aluminum Electrodes”.
The company has shown in the past over 4,000 cycles in the battery cells crafted with the novel cathode. Sources say that the new electrodes will allow Tesla to achieve better energy density than the NMC batteries.
The company’s battery engineers, Hongyang Li and Jing Li are listed as inventors of the new patent. Jeff Dahn, the company’s battery research partner, and his students are also in the list of investors in the patent.
The electronic car maker wants to produce its own battery cells using company developed technologies from its internal teams. The goal is to produce the battery cells on a massive scale at a cost below that of $100 per kWh.
The company has already examined its prototype cells under its Roadrunner secret project. The company believes that it can mass-produce cells and use them in its cars, then eventually in its stationary energy storage products.
