The competition in the electric vehicle market won’t be ending anytime soon as Nissan, a Japanese major automaker unveiled the latest in its EV series. The new Nissan Leaf EV, which comes with better driving range and autonomous features is coming up as a direct rival to Tesla Motors (NASDAQ:TSLA) Model 3 in a competitive and already saturated EV market.
Despite all the features and top-notch facilities, the electric vehicle will be available in the market at a cheap price of $30,000. The price is aimed to make it appealing in the entry level that is already saturated with exotic brands.
Nissan Targets Different Consumer Class
At the unveiling, the Japanese automaker giant emphasized that its focus is on a different pool of users from those that its rival, Tesla targets. Nissan’s CEO Hiroto Saikawa, made it clear that the company’s target is different from those that its close rivals are already servicing, in his words, “We are not necessarily putting up a price with the consideration of our competitors,” which means Nissan is not in price war with Tesla and other electric vehicles makers.
Saikawa explained that “the pricing range should be affordable. This is a fundamental point. You can do the Tesla type of pricing, but we focus more on our customer portfolio,” although he didn’t explain further on the comparison.
Nissan Leaf Is Cheaper Than Elon Musk’s Tesla Model 3
In terms of price, the new Leaf is $5,000 cheaper than Tesla Model 3, which was unveiled with fanfare launch in July. Although the CEO of Nissan claimed that the product is in the world of its own, the lower price may be a factor to induce potential buyers to try the new car.
Powered by an autonomous parking innovation and with a considerable range of 150 miles, this is more than 40% improvement when you compared it to the initial Leaf model premiered in 2010. With a better driving range and distinct autonomous features, the new Leaf, is definitely stepping into the market to make an impression that brand agnostic consumers cannot ignore.
Nissan Leaf Not a Match for Tesla and Chevrolet
Lower cost makes the Nissan Leaf attractive, but in terms of the distance per charge, it is not in the same class with General Motors’s Chevrolet Bolt and Tesla Model 3, which can reach 238 miles and 220 miles respectively, but the Leaf current range is enough for the daily need of an average user.
Saikawa argued that range will no longer be the factor across electric vehicles. This assumption may yet be acceptable, but market response to Nissan Leaf will be the litmus, to test the market if users will sacrifice travelling range of a cheaper price.
The euphoria is high and Nissan management team believes Leaf is just the EV that will make users feel the fun and comfort that you can only get from driving an autonomous electric vehicle without paying premium.
The final submission is that Nissan has made a bold impression with an improved model of the Leaf; but this model is won’t probably the rival that will break Tesla and GM’s control of the entry-level EV market. Yet, the lead should be good enough for average daily use with the comfort and class associated with EVs.