04 July, 2017
Tesla CEO Elon Musk announced that the first production model of the much anticipated Model 3, the company's attempt to introduce an electric auto for the masses, was expected on Friday.
In Elon Musk's final tweet for the night, he said the company is expecting to produce a whopping 20,000 Model 3 cars per month starting December.
On June 29, a fan desperate to know when the Tesla Model 3 will be made available mustered up the courage to ask Musk himself about the release date of the vehicle.
Musk also announced in a follow up tweet that 30 customers will be receiving Model 3 vehicles at a "handover party" on July 28. The Model 3's price tag is in line with the industry's average new-car transaction price of $34 442 in June, according to Kelley Blue Book.
The Model 3 could retail for $27,500 with a $7,500 federal electric auto tax credit, but technically starts around $35,000. Tesla said that it's now "rare" for a new Model X to have "initial quality problems". From there, production is set to grow exponentially over the coming months.
Musk has said previously that the company is planning to build some 500,000 vehicles a year in 2018, an ambitious target many industry watchers have questioned.
Provided global economic conditions do not worsen considerably, we are confident that combined deliveries of Model S and Model X in the second half of 2017 will likely exceed deliveries in the first half of 2017. But any delay in the Model 3 production schedule could quickly change the attitude of financial markets.
Elon Musk is expecting to roll out its first 30 units of the highly-anticipated Tesla Model 3 in this month. Compared to the Model S and X that cost north of $100,000 (around ₹ 65 lakh ) in the U.S., the Model 3 substantially cheaper.
Mass production of the Model 3 is expected to be a game-changer for Tesla.
We have yet to see the production version of the Model 3, but that should be very soon.
