To The Moon

Tesla has resumed taking orders for the Model 3 Long Range in the US, which had been unavailable for almost nine months. The updated model may be equipped with Lithium-iron-phosphate (LiFePO4/LFP) battery cells, similar to the Model 3 Standard Range or a new variant based on LFP chemistry. The changes were noted on Tesla’s website, where the Model 3 design studio was updated. The Model 3 Long Range now shows a range of “325+” miles, down from the previous 358 miles, which is consistent with the less energy-dense and cheaper LFP technology. The vehicle is also now eligible for only $3,750 of the US EV tax credit, similar to the Standard Range, because it sources its battery components from CATL, a Chinese battery supplier.

LFP The possibility of a new battery chemistry for the Model 3 Long Range is significant because LFP batteries have pros and cons. They are cheaper and require no cobalt, a mineral with potential human rights concerns, but they are also less energy-dense and perform worse in very cold environments. However, they suffer from less degradation, resulting in a healthier battery for a longer time.

Customers who prefer LFP batteries, no interest in performance upgrades, and prefer the aero wheels may still opt for the Long Range model despite the slight reduction in range, $2,250 savings, and smaller price differential compared to the Model Y. Tesla is now taking orders for the new Model 3 Long Range, with deliveries scheduled to start in June 2023. While it may not be the Model 3 refresh that many were expecting, it is still significant to see more of CATL’s LFP cells in US-market Teslas.

The new model’s batteries create a pricing problem for buyers. The Long Range and Performance models differ in upfront price by $6,000, but the post-incentive pricing is only $2,250 more for the Performance. This small premium for more performance, along with other upgrades, may attract many buyers to the Performance model. However, some may still prefer the Long Range model due to their preference for LFP batteries, no interest in performance upgrades, a preference for aero wheels, or the $2,250 savings. Despite this, the Long Range Model Y is very close to price almost the same , with the Model 3 due to the additional $3,750 of the US federal tax credit, making its pricing questionable. Interested buyers can now place orders for the new Model 3 Long Range, with deliveries set to begin in just one month, in June.

Code name HIGHLAND

Although this is not the anticipated Model 3 refresh with the codename “Highland,” it is still noteworthy to see more of CATL’s cells, potentially LFP, in Teslas sold in the US market.

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