Tesla stocks had a huge boost this week seeing the company overtake Ford as the second largest auto manufacturer in the US, following their reports that they had more deliveries than experts had originally expected them to in the first quarter. Analysts took it as a sign that the production of the Model 3 will be on schedule for deliveries due the second half of this year. Another sign that the company is well underway for the production of the Model 3 is the recent business deal made with an Austrian cable manufacturing company, according to a report from the Austrian Broadcasting Corporation. The cable company, yet to be named publicly, will be supplying Tesla with shielded aluminum cables. As part of the $5.4 million (€5 million), Tesla will be delivered 3000 km (1864 miles) of the aluminum cable to Tesla's Gigafactory 1 in Sparks, Nevada. The cable is expected to connect the Model 3's electric motor to an on board battery pack.
According to the Austrian company's Facebook page, the deal was a result of "intensive development and sales activities." Although this is the first time the company has made a deal with Tesla, it is no stranger in the auto manufacturing scene since they've had struck previous deals with Ford and Chrysler. The Model 3 is Tesla's newest addition to their line up. Aside from that, it is also their first mass production model and first model outside of the luxury class vehicle. The new model is expected to be smaller and lighter than the luxury class vehicles Tesla has been producing. Analysts believe these new Austrian-made cables are lighter than traditional cabling materials, and not to mention cheaper.
All of the existing features of Tesla vehicles are expected to be incorporated in the Model 3, such as autonomous driving and supercharging. It will also have Tesla's solar roof technology produced by SolarCity, which was acquired by Tesla itself last year. The base model will have a battery pack of 60 kWh, which will provide roughly 215 miles. Tesla has confirmed the P100D's 100 kWh pack will not be available in the Model 3 because its wheelbase is too short. Buyers will be able to use Tesla's network of Supercharger stations. All Teslas ordered since the beginning of this year will receive 400 kWh of free supercharging credits annually, which is roughly 1000 miles but after that, there will be a small fee. But Tesla has promised the small fee will "cost less than the price of filling up a comparable gas car."