SAN FRANCISCO, US: Tesla said Thursday its Model 3 — heralded as an electric car for the masses — is available for order online only at a price of $35,000, with delivery promised within a month.
The announcement fulfills a vision of Tesla founder and chief Elon Musk, who has touted a more affordable electric car as part of his vision of weaning drivers from gasoline-powered vehicles.
The Model 3 was to be priced at $35,000 when Tesla first began taking orders in 2016, but the cheapest version before today was about $10,000 more expensive despite price cuts that followed reductions in the US federal tax credit for vehicles not burning fossil fuels.
Musk described the Model 3 early on as “the final step in the master plan: a mass market, affordable car.”
With Model 3, Tesla aimed to show it can appeal to the general public and produce cars en masse.
Not long after Tesla was founded in 2003, Musk said the plan was to use money from high-end electric vehicles to create more affordable offerings to make the technology the new automotive norm.
As it launched its least expensive Tesla, the company said it would sell only via the Internet.
“To achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only,” Tesla said in a statement.
The “standard” Model 3 has a smaller range before recharging, of 220 miles (350 kilometers).
Its specifications include a top speed of 130 miles per hour (208 kilometers per hour) and 0-60 mph acceleration of 5.6 seconds.
“Although lower in cost, it is built to achieve the same perfect 5-star safety rating as the longer-ranged version,” Tesla said.
Tesla also introduced a Model 3 Standard Range Plus, which offers 240 miles of range, a more powerful drivetrain and premium interior features at a price of $37,000.
Tesla shares that closed the formal trading day up slightly slid 3.3 percent to $309.38 in after-market trades that followed release of the news.
“The bears will focus on this news as a sign that lower profitability and demand are catalyzing this move and strategic pivot, which we strongly disagree with,” Wedbush analyst Daniel Ives said in a note about Tesla to investors.
“We believe this strategic shift was the right move at the right time for Tesla, although the stock will be a ‘prove me’ name for the next 6-9 months.”
Tesla’s ‘mass market’ $35k electric car ready to order, online
Tesla’s ‘mass market’ $35k electric car ready to order, online
Artificial intelligence is transitioning into a ‘digital employee’
- AI can be an effective tool, business leaders tell Arab News
- Not about jobs, but ‘convergence of human capital and AI’
RIYADH: Artificial intelligence is fundamentally reshaping the world of work, transitioning from a supporting tool to an active partner that is radically changing the nature of professions and productivity standards.
Amidst the current global transformations, an active regional digital environment is emerging.
This is being led by Saudi Arabia through Vision 2030 and massive investments in smart infrastructure, providing a living model for studying the implications of this partnership between humans and machines on the future of work in the region.
Arab News spoke to various business leaders about the emerging shape of the sector.
Salem Bagami, co-founder of Metatalent, said the ideal relationship between humans and machines at work should be complementary and collaborative.
Humans would bring creativity, emotional intelligence, and complex decision-making, while machines excel at processing big data and performing repetitive, precise tasks.
He believes that this type of balanced partnership would lead to unprecedented productivity and innovation.
Mohammad Al-Jallad, chief technologist and director at HPE, said AI has gone beyond being merely an executive tool to becoming a “digital employee” entrusted with automating routine tasks and providing insights based on data analysis.
He believes that the real opportunity lies not in the debate over job replacement, but in “the convergence of human capital and artificial intelligence.”
AI should augment human teams by taking on menial and routine tasks, enabling employees to focus on critical thinking, creativity, and ethical reasoning, significantly improving operational results.
Bagami also emphasized the complementary nature of this partnership. “The ideal relationship between humans and machines at work is one of collaboration, where each complements the others.”
He explained that humans bring creativity, emotional intelligence, and nuanced decision-making, while machines excel at processing big data and performing repetitive tasks efficiently, leading to increased productivity and innovation.
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Salem Alanazi, chairman of Jathwa Technology Co., notes a significant trend among Saudi Arabia companies toward using AI applications to provide faster services to customers at lower costs.
The emergence of the “virtual employee” available around the clock has eliminated the need for some traditional jobs in specific sectors.
Alanazi warns that some companies’ reluctance to adopt AI may expose them to real risks. “All those who hesitated to benefit from AI applications have a lack of understanding of these technologies.”
He said those who adopt these technologies will be able to offer lower-cost, higher-quality services, which will affect the market position of companies that lag behind.
Ali Aljumhour, CEO of VALUE Consultancy, said that the transition of AI into a partner has reshaped the list of most in-demand skills in the job market.
Skills such as “prompt engineering,” “human-machine integration,” and “digital ethics” are becoming increasingly important.
He added that AI has become an instantly available “technical knowledge base,” shifting the criteria for professional distinction toward those capable of smart interaction with these technologies.
In terms of ethics, transparency, and trust, Alanazi points to the complexities of global AI governance, where legislation overlaps and evolves rapidly to keep pace with potential risks, particularly in the areas of cybersecurity and privacy.
Al-Jallad emphasizes this crucial dimension, noting that providing responsible and reliable AI solutions that meet the highest standards of transparency is a key priority, especially in regulated sectors.
Bagami believes there should be basic standards for the ethical use of Al, emphasizing the need for transparency, accountability, and fairness, along with using diverse data sets to prevent bias and protect privacy.
He believes that building trust between humans and machines requires clear explanations of how systems work, giving users the opportunity to provide feedback and conducting periodic performance reviews.
On performance evaluation, Aljumhour said: “I expect radical changes in standards, shifting from measuring individual effort to evaluating the quality of the partnership between humans and machines.”
There should be a focus on the quality of inputs provided to intelligent systems, the accuracy of review and modification, and complex decision-making based on outputs.
He warns, however, of new risks that may arise, such as over-reliance on AI or difficulty in determining responsibility for mistakes.
In the employment sector, Aljumhour expects fundamental changes in standards.
There will be questions and tests focusing on measuring skills in dealing with AI, such as asking candidates about their experiences of collaborating with these systems, or testing their ability to formulate effective requests for complex tasks.
Aljumhour identifies significant human challenges in this transition, with “fear, loss of power, and exclusivity of knowledge” being the biggest concerns for experienced employees.
