Model 3 vehicle, this did not stop the Twitter-loving co-founder, CEO, and product architect of Tesla, Elon Musk, to announce two completely new models, including a high-end Model 3 Performance with a price of $78,000.
The standard all-wheel drive option, he says, adds $5,000 to the price of a regular Model 3.
In addition, he confirmed that the upcoming performance version would also retain the 310-mile range and that it would reach 0-60 in 3.5 seconds.
Elon Musk's decision to push a high-end Model 3 vehicle instead of the more affordable base model of Tesla's electric auto is one of life or death for the electric auto company.
Working on Model 3 dual motor all-wheel drive & performance versions.
If Tesla had shipped the base model immediately, it would "lose money & die", according to Musk. "Will beat anything in its class on the track".
Both versions of the all-electric sedans will feature an AC induction motor in the front, similar to Tesla's Model S and Model X, and a switched reluctance, partial permanent magnet motor in the rear with silicon carbide inverters. Of special interest is the fully loaded "Performance" which Elon Musk compares with the BMW M3 which will be sold for the same price, but it will be faster than Germans at 15%, and more comfortable handling. The performance Model 3 also has a top speed of 155 miles per hour.
During the fourth quarter of 2017, Tesla made 2,425 Model 3 vehicles.
Model 3 base price is $35,000 and won't be available for at least another six months.
That's more than double the price of the basic Model 3, which starts at $35,000. However, a number of prominent Wall Street analysts have warned the company is facing a cash crunch, and may need to tap the market sooner rather than later.
Tesla faces a variety of other issues, including a number of lawsuits, charges leveled by the National Labor Relations Board that it fired 1,000 workers to blunt a unionization drive in Fremont, and a series of investigations by federal regulators looking into a series of recent crashes. Goldman Sachs, in fact, expects the company to need another $10 billion in equity by 2020.