May 31, 2019

Tesla shows more cards on its China expansion plan

A woman walks past a Tesla car store in Beijing in May 2018. Photo: Wang Zhao/AFP/Getty Images

Tesla said Friday that it's now taking pre-orders for Model 3s in China with a 286-mile range and announced pricing for the vehicles built there, according to published reports.

Why it matters: The announcements show how Tesla, which is struggling financially, is seeking to expand sales of the vehicle that's key to its future.

By the numbers: Per TechCrunch and others, the base price for the Chinese-built Model 3 will be around $47,500, which is "some 13 percent cheaper than its previous entry-level option."

  • Tesla also announced via Twitter that it's now taking orders for Model 3s in Australia, Hong Kong, Japan, New Zealand, Ireland and Macau.

The backdrop: Automakers are readying a slew of electric vehicle models in coming years that appeal to Americans' thirst for size, Axios' Steve LeVine reports.

What's next: Tesla and a crowd of other carmakers — Ford, VW, Volvo and a startup called Rivian — are on the verge of releasing a slew of SUVs, crossovers and electric pickup trucks.

Go deeper: The future of big electrics

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Congress' $250 billion PPP injection could come too late for some businesses

Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

The state of play: Banks and government officials have been working to smooth out the process, and on Thursday the Senate will vote to pump another $250 billion into the program.

Fauci: Social distancing could reduce coronavirus death toll to 60,000

Photo: Chip Somodevilla/Getty Images

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told NBC's "Today" on Thursday that he's hopeful that social-distancing measures in place across the U.S. will reduce the total number of coronavirus deaths.

Why it matters: Fauci said that while early models projected between 100,000 and 200,000 U.S. deaths from the pandemic, he now believes that number could come down to 60,000 — but he emphasized the importance of keeping social distancing in place to ensure that trend holds.

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OPEC+ and G20 energy meetings mark zero hour for oil diplomacy

Illustration: Aïda Amer/Axios

The next two days will be pivotal for determining whether large oil-producing countries can partially stabilize an industry reeling from very low prices and the historic, coronavirus-fueled collapse in demand.

Driving the news: The OPEC+ group led by Saudi Arabia and Russia begin meeting remotely later Thursday morning to discuss production cuts, to be followed by a virtual Friday meeting among G20 energy ministers that includes the U.S.