Tesla-related news normally has a major impact on its suppliers. Companies including Hankook Tire and LG Chem experienced similar effects in the past when word broke out that they would be making components for Tesla cars, and both of their stocks soared subsequently.
It was the opposite in the case of Hota Industrial Manufacturing of Taiwan. After reports came out in 2013 that it would be supplying gearboxes for Tesla cars, its stock has risen almost 10 times its value. However, when reports came out that Tesla is looking a second supplier of gearboxes, Hota’s stock started dropping.
Tesla Motors has launched in March its Tesla Model 3 sedan, which at $35,000 is certainly far less expensive than its Model S hatchback and its upcoming Model X SUV.
As usual, the biggest lure to buyers when selling electric cars is how much range do the vehicles have before they re-charge. For its competitive price, the Tesla Model 3 can actually a distance of over 215 miles on a single charge.
The impressive range of the electric sedan was confirmed no less by Elon Musk. However, the Tesla CEO did not confirm the energy capacity of the battery pack that the Model 3 will be using.