Stock Ticker

  • Loading stock data...

Tesla Inc. (NASDAQ:TSLA) Announce Leather Free Model 3 Car Interior Days After Launching Tesla Insurance

Tesla Inc. (NASDAQ:TSLA) made headlines last week when the company announced that it will offer customers car insurance. Over the weekend, the company announced that it’s Model 3 car is free of leather. The company has indicated that the anticipated Model Y will be completely vegan once it debuts in 2020.

Tesla’s leather-free cars

For some time now animal rights activists have been urging Tesla to stop using animal-derived materials in their cars. PETA representatives mooted the idea in the company’s recent stakeholders meeting and the CEO bought the idea. For now, the Model 3 has a leather-free steering wheel which is a starting point.

Elon Musk confirmed recently that the company close to a non-heated steering wheel that is leather-free. He added that there are a few challenges when heating the non-leather material as well as how it wears with time.  PETA and Tesla have worked together over the years in the production of synthetic leather it has been campaigning for other automakers to do away with leather product in their cars.

Tesla has been working on other “vegan” materials for car interiors. The company has been providing cloth interiors for its customers who prefer not to use leather.

Tesla Insurance

The move to have leather-free cars comes at the back of another incredible move by Tesla. The company launched Tesla Insurance last week in California which it plans to scale to the rest of the country. The company indicates that the insurance will save car owners up to 20% in rates and some instances 30% compared with what third-party insurers offer.

Musk has been itching towards solving the problem of insurance for Tesla cars. The premium cars are excessively expensive to insure despite the company claiming that they are some of the safest cars in the world.

Tesla Insurance will be a game-changer because it will significantly reduce costs. This will work for the company because they understand safety and repair costs as well as the technology of the cars.

Recent Stories

Sponsored Content

Sign Up To Get Our Latest Stocks Alerts