The updated Model 3 has now arrived in Europe, bringing a host of long-awaited features. All new Model 3s being built at Giga Shanghai are now being equipped with the front bumper camera, and see the welcome return of physical turn signal stalks. However, the most significant upgrade is one you can’t see: a new 82kWh battery that provides a big boost to range and power.
Improved Range
At the heart of this update is a new 82kWh battery pack featuring LG’s 5M cells. This new battery enables Tesla to introduce a Long Range Rear-Wheel Drive (LR RWD) model that achieves a remarkable 750 km (466 mi) of WLTP range, instantly setting a new benchmark for range and efficiency.
That range boost is extended to all Tesla Model 3 variants in Europe.
Variant
Old Range
New Range
RWD
513 km / 319 mi
544 km / 344 mi
LR RWD
702 km / 436 mi
750 km / 466 mi
LR AWD
678 km / 421 mi
716 km / 445 mi
Performance
528 km / 328 mi
571 km / 354 mi
Performance Boost
The benefits of the new battery aren’t limited to range, either. The higher-density cells also allow for a greater power output, giving the European Model 3 Performance a boost in power, as well. The Model 3 Performance is now rated at 500 hp, a notable jump from the previous 460 hp.
This brings the European-spec variant more in line with its 510 hp North American counterpart, closing a long-standing performance gap. Along with the nearly 10% range increase, that’s a massive upgrade for the Model 3 Performance.
The Features You Can See
Of course, this minor refresh also includes the more visible hardware upgrades that have been rolling out in other regions. The inclusion of a front bumper camera will improve parking visibility and provide more data for low-speed maneuvering for FSD, while the return of the physical turn signal stalk addresses a major point of criticism from many owners regarding the steering wheel buttons.
Tesla is also making minor aesthetic tweaks by blacking out the front Tesla logo on European models.
While the ergonomic and visual upgrades are welcome, the new, higher-capacity battery is the highlight in this update. Its introduction makes the European Model 3 equivalent to the one that’s recently started shipping in the Asia-Pacific market, and a better vehicle than the current North American variant.
We’ll have to wait and see when Tesla implements these changes in the North American market, but we expect them to occur within months as production transitions.
Tesla Energy has introduced a major new financing option designed to make its solar and home battery systems more accessible than ever. Tesla has officially launched a new lease program in the United States that bundles solar panels and a Powerwall battery system for what Tesla advertises as its “lowest monthly payment.”
This addresses the largest hurdle for many homeowners considering a switch to solar or home backup: the high upfront cost. The new lease program has an upfront cost of only $600.
By shifting the financial model from a large capital purchase that pays for itself over a decade or more to a manageable monthly lease payment, Tesla significantly lowers the barrier to entry.
New Tesla Lease now available in the US for solar + Powerwall
- Lowest monthly payment vs loan - System availability guaranteed for the full lease term - Buyout option after five yearshttps://t.co/KwkNurw7gU
Beyond the lower initial cost, the new lease program includes a 95% system availability guarantee that remains in effect for the entire term of the lease. If the system’s availability drops below 95%, customers may be eligible for a credit.
The lease also covers all included maintenance for the solar panels and Powerwall, which includes inverters and batteries, two common items that may need to be replaced during the system’s life.
Lease Terms
The lease term for solar panels and Powerwall is 25 years, but the buyer can buy out the system after five years for a “fair market value,” which is similar to that of vehicles.
While the lease rate is predictable, Tesla includes a 3% annual escalator, which is in line with standard inflation increases. The cost of the lease will be dependent on the size of the system and will vary from home to home.
Leasing for five years is a compelling option, as it allows homeowners to try out the system before committing to a purchase. However, the unknown cost of buying the system after the initial five-year period is unknown, making it difficult to commit to. The lease term also runs 25 years, making it a big commitment.
Other Details
An important feature of the new program is the performance guarantee. For the full term, Tesla guarantees the system will have at least 95% availability on average, calculated every two years, throughout the term of your lease. If the system does not meet this guarantee, Tesla will provide compensation as outlined in your lease agreement.
A lease for Solar + Powerwall or Solar comes with a 25-year term, while a Powerwall-only lease comes with a 12-year term. At the end of the lease, the lessee has the option to renew the lease for an additional five years, purchase the system outright, or have Tesla remove the system at an additional cost.
When selling a home, the sellers will have two options. They can either transfer the lease agreement to the new buyer or buy out the system if it has been in place for more than five years. This is one of the pain points with solar systems, whose lifespan can last up to 40 years. It can make selling a home more difficult or forces users to buy the system at a price higher than they would otherwise.
We’d love for Tesla to calculate and show the buyout cost of the system at each year so that buyers are aware of the buyout cost when they’re signing the lease.
If you are eligible for financial or tax incentives for a solar or battery backup system, Tesla retains ownership of the hardware, and Tesla claims any available federal or local tax credits.
The lease program is another option for owners to access Tesla Energy. It also makes Tesla competitive against other leasing programs on the market. By removing the primary obstacle of high upfront costs and adding the security of included maintenance and performance guarantee, Tesla is making a strong push to accelerate solar adoption.
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