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The European model 3 debut comes at a critical time for Tesla, which has just laid off 7% of its full-time employees to help it cut costs while increasing production of cheaper versions of the vehicle. When Chief Executive Officer Elon Musk announced layoffs last week, he wrote to his employees: "This quarter, as for the third quarter [2018], shipping more expensive model 3 variants (this time to Europe and Asia) will allow us, with great difficulty, effort and luck, to allow us to make a small profit.
Musk also highlighted the importance of selling cheaper versions of the Model 3 in several markets this year, as Tesla is looking to break through with its most affordable car to date. Changes to the tax credit will make the Model 3 more expensive in the United States in July and further afield at the end of this year.
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