Tesla Model Y and Ford’s EV to boost competition; Model 3 reaches 0-60 mph in 5.6 seconds

The final specs of the Tesla Model 3 have not yet been revealed. However, a comparison chart recently posted on a Tesla forum offered some insights into the electric sedan’s specs.

The highly-anticipated electric sedan has a 0-60 mph acceleration time of 5.6 seconds. However, the Model S P100D variant operating in Ludicrous Mode reaches the same in just 2.3 seconds. The Model 3, when compared to the Model S, has less than half the interior storage volume. The 0-60 mph in 5.6 seconds places the EV at par with BMW 330i and Audi A3. It’s surely going to be a fast car, and those driving an electric car for the first time will be amazed. It also comes with a 215+ mile range from a single charge.

The car will have the pay-per-use functionality at the high-speed Supercharger stations. Meanwhile, it has been revealed that Ford’s first EV may have an edge over Tesla Model Y. The Ford’s electric SUV will have an affordable price tag and arrive by 2020. The Model Y is also expected to come out by late 2019 or early 2020 and may be priced competitively. Ford believes it has an edge over the other because of its battery range. The Tesla car will be built on a different platform and may have a 300 miles range.

Ford believes that the competition with the Tesla vehicle is necessary as it will boost the business overall. Moreover, if the demand for electric cars goes up, the price for battery technology will go down.

“We always welcome the competition. There are some aspects of the economics of battery-electric vehicles that are helped by scale. The more penetration we get, all of us are helped by the economies of scale ... We are excited about it, and I think it's going to be hitting that inflection point where we are talking about fully electric vehicles not as a niche, not as a novelty, but as a very legitimate, high-volume opportunity for the industry and for the consumer,” Ford’s Chief Technology Officer Raj Nair told Business Insider.

Tesla is pushing insurance agencies to consider how policies are about to change as cars become safer because of the progressing self-driving technology. The company is already selling car insurance with its EVs in Australia and Hong Kong. This is part of the company’s long-term vision of including car insurance along with its vehicles.