Daily Management Review

Tesla Model 3 Will Receive Displays From LG


The South Korean company LG Display will supply information displays for the recently announced electric car Model 3 from Tesla Motors, according to Reuters.

by theregeneration via flickr
by theregeneration via flickr
Other electric cars of the company, namely, Tesla Model S and Model X, get their displays from another company, said the agency’s informant.

Model 3 has a large, plate-like information display on the front panel. This reflects the general trend of installing large displays in vehicles.

"LG Display is the sole supplier of the main display with a diagonal of more than 15 inches for Model 3," - said the spokesman, who asked to remain anonymous.

The contract with Tesla Motors for LG Display is extremely important, as the South Korean vendor seeks to expand its presence in the electronics segment, with higher returns and prospects for more stable income as compared to the consumer goods market.

Head of Tesla Motors Elon Musk said on Twitter, that the company received 180 thousand pre-orders for the new electric car Model 3 for the first day. Predicted average price of cars is $ 42 thousand, but residents of some US states will be able to purchase Model 3 for less than $ 35 thousand due to tax credits.

Model 3’s value for Tesla can hardly be overestimated. Until now, the automaker has not been able to seriously compete with large corporations in the mass segment, since its assets were based only on the premium segment. Moving from expensive to mass was gradual. So, Tesla Roadster, the first electric sports car in the world, worth $ 109 thousand. Second-generation models came out even cheaper: Model S can be purchased for $ 75 thousand, and Model X costs around $ 80 thousand.

An electric car for $ 35 thousand makes a direct competitor for cars of mid-priced segment. Although the decision to take up the market seems logical development step, for a long time experts doubted Tesla's ability to bring the project to fruition. The main problems were high costs and a lack of production capacity.

Tesla Motors’ goal is to sell 500 thousand electric vehicles annually by 2020. It would not seem a high standard since the company’s head boasts by about 180 thousand pre-orders for Model 3 not even brought to production yet. However, for increasing the production, Tesla Motors still has to build a so-called "gigaplant" in Nevada that could reduce the cost of batteries assembly by 30%.

In addition, pre-orders still do not determine the real volume of sales. For example, in the IV quarter of last year, Tesla sold 208 Model X in total, and made 507. In general, deliveries of all types of electric vehicles decreased by 9% to 60.84 thousand during the first two months of 2016, as the agency Reuters reported with reference to the Association of electric vehicles (electric Drive transportation Association).

source: reuters.com

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