Tesla Motors has announced that it would begin the deliveries of its long-awaited Model 3 Long Range Battery variant in Europe from February 2019. Tesla Model 3 car was initially launched in the US in July 2017. According to Tesla, “Model 3 is the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume”. The Model 3 Long-range version delivers 338 miles under the latest Worldwide Harmonised Light Vehicle Test Procedure (WLTP) and goes from 0–62mph in 4.8 seconds. In Europe, Tesla Model 3 will be sold with a Combined Charging System (CCS) charging port, which would help access thousands of third-party fast charging stations across the region. The company has recently seen sales volumes comparable to more established players such as the German trio of Audi, BMW, and Mercedes, despite its much narrower product range.
“Tesla is setting up a new factory in China to expand its market share in this geography, with the promotion of model 3 and model y in this market. This is expected to increase the demand for lithium-ion battery, which would infuse growth in the Battery Packaging market.