The Tesla Model 3 doesn't have a key

Model 3 Mountain Pearl EMBARGOED DO NOT USETeslaNo key required.

FREMONT, CA — In addition to getting rid of much of the traditional dashboard instrumentation for the Model 3, Tesla has also ditched the key.

And not just the old-school physical key, which has been replaced by fobs by most automakers. Tesla has literally dispensed with pretty much anything an owner might need to carry around.

So no key, and instead owners will use a smartphone app that unlocks the Model 3.

Backup is a credit-card-sized rectangle of plastic. If the smartphone app doesn’t work, or you lose your phone or don’t have it charged, you can keep the card in your pocket, purse, wallet — whatever — and swipe it near the front door handle to get in and fire up the Model 3’s electric drivetrain.

The card can also be given to valets for parking.

That’s the Model 3 — getting rid of all kinds of stuff that cars have needed for decades.

Get the latest Tesla stock price here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.