Tesla Model 3 Performance Price Surges Days After Debut, Cybertruck Powershare Costs Skyrocket

Just days after Tesla released its Model 3 Performance, the company increased its price by $1,000. Meanwhile, a Tesla Cybertruck owner faces a staggering $30,000 quote for a Powershare installation, which would enable his truck to power his home.

Tesla Model 3 Performance Receives Upgrades and Price Hike Following Positive Reviews

The Model 3 Performance was released the morning of Tesla's quarterly earnings report earlier this week, with numerous revisions, per Teslarati.

Tesla modified the car's exterior, seats, steering, brakes, damping, track mode software, and the rear drive unit, resulting in 510 horsepower and a 0-60 time of 2.9 seconds.

And, because it is eligible for the US Federal EV Tax Credit, it is less expensive than the lower-spec Long Range Model 3 (starting at $47,740) after the credit is applied.

The Model 3 Performance has also received wonderful reviews from internet observers who highlight its impressive specifications and value proposition compared to competing automobiles and the few car reviewers whom Tesla graciously allowed to review the vehicle before its debut.

Perhaps due to the convergence of these variables, Tesla has determined that its much-anticipated vehicle is worth more than it initially planned to sell for and has so hiked the price by $1,000.

The Model 3 Performance is now priced at $53,990, up from $52,990. If you qualify for the tax benefit, the performance model is still approximately $1,000 less expensive than the long-range variant. However, because the tax credit is available on non-qualifying vehicles via leasing, the lease costs for the RWD ($299/mo.) and Long-Range AWD ($439/mo.) remain much lower than the Performance AWD model ($566/mo.).

To offset the price increase, Tesla may have decreased the cost of some paint and interior options. The solid black exterior paint color is now $1,000, down from $1,500, and the black and white inside is now $1000, not $1,500. Other paint selections are priced the same as before.

Steep Costs for Cybertruck Powershare Installation Surprise Owners with High Price Tags

A Tesla Cybertruck owner has been charged more than $30,000 for a Powershare installation allowing his electric pickup truck to power his home.

When Tesla debuted the production version of the Cybertruck late last year, it verified that it was the company's first vehicle capable of bi-directional charging.

The function enables Cybertruck owners to use their trucks' battery packs for purposes other than driving them. They can power almost anything using the outlets in the vehicle's bed, including another electric vehicle. However, with Tesla's new Powershare product, Tesla Cybertruck owners can also power their houses in an outage.

The company previously stated that Powerwall owners already have the necessary hardware to access the feature, but if not, they can use Tesla's Universal Wall Connector ($595) and Gateway ($1,800). The manufacturer also announced a new “Powershare Mobile Connector.”

Tesla provides this hardware for free to Cybertruck Foundation series buyers. For Cyberbeast Foundation series buyers, the carmaker gives $4,000 toward installation, but sources warned it might be far more expensive.

The source did not expect it to be ten times more expensive, yet a Cybertruck owner was quoted that amount.

Joe Tegtmeyer, a Cybertruck owner well known for his drone flyovers of Gigafactory Texas, offered a quote for installing Tesla Powershare at his home.

He is quoted $64,275, although that includes two Powerwalls, to be fair. Tegtmeyer has received an estimate from installation Treehouse for $33,837.50 to enable Powershare without Powerwalls. The outrageous pricing results from a dubious $24,000 upgrade to boost the electricity input to the house.

Tegtmeyer was astonished by the figure because his house's solar panel installation had recently undergone electrical upgrades.

“I had thought Powershare might be a viable option for me, especially since I already had a huge solar panel system & all related electrical upgrades including a completely new main circuit-breaker panel & new heavy-duty wiring included as part of my solar system installation. I had thought this would make the Powershare installation easier, but apparently, that is not the case.”

Photo: Bram Van Oost/Unsplash