When Elon Musk isn’t successfully launching a HyperLoop pod, distrusting A.I., and blasting stuff into space while wearing a crushed velvet dinner jacket, he’s trying to achieve the lofty goal of selling you the last car you’ll ever buy. Hopefully “the last car” means you love the Tesla brand, not that the car’s extensive computing power goes all Skynet and drives you into the sea.
Thanks to Tesla’s quarterly earnings call on Wednesday, we now know a little more about that car. We already knew the Model 3 is going to be Tesla’s first entry-level vehicle, priced at $35,000 before incentives and going 220 miles between charges. What was revealed on Wednesday is how many people have cancelled their preorders of the Model 3 and what happened to Tesla’s share price afterward. Both may be a surprise.