The body and drive unit of Electric Vehicle (EV)-maker Tesla's Model 3 Sedan can last upto 1 million miles while the battery can last up to 500,000 miles, said company Chief Executive Officer Elon Musk. The billionaire made this claim to his 25.7 million followers in context Model 3's value being used in an autonomous ride-hailing fleet.
"Model 3 drive unit and body is designed like a commercial truck for a million-mile life. Current battery modules should last 300k to 500k miles (1,500 cycles). Replacing modules (not pack) will only cost $5k to $7k," Musk wrote on Twitter on Saturday.
"What he meant is that the vehicles would become revenue-generating assets as they integrate this autonomous ride-hailing fleet, which has been dubbed the 'Tesla Network'," Electrek reported.
The value of the Model 3 on the Tesla Network would depend on how many miles it can put in it, which according to Musk is up to 1 million miles within two or three battery module replacements.
Even though Tesla would not replace a whole battery pack, the company is willing to offer battery module replacements for between $5,000 and $7,000.
"Assuming that $5,000 to $7,000 for the battery modules means the cost for the Standard Range Plus and Long Range battery modules, it would mean a cost of roughly $100 per kWh at the battery module level, which makes sense," the report added.
"At a value of $1 per mile, we are talking about a potential of at least $300,000 in revenue before having to possibly replace the battery modules."
The EV-maker recently announced big price cuts for its high-end Model S after shifting to online-only sales. The long-range Model S is now priced $83,000 down from $96,000 before savings.
The huge price cut by the EV maker comes less than two months after it decided to stop manufacturing Model S with a 75kWh battery pack, opting instead to only sell versions with a 100kWh pack.
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