Only several days after his latest announcement reassuring the market that his company's newest mass-production electric auto was coming, #Elon Musk alerted social media this Sunday yet again, this time with definitive news.
The Tesla Model 3 is a critical launch for the company.
Beyond a lack of batteries, Tesla told investors that it had delivered just 22,000 vehicles over the past three months, barely meeting estimates and coming in 3,000 units short of its delivery performance last quarter. 100.51 million shares or 11.10% more from 90.47 million shares in 2016Q3 were reported. The production acceleration will be slow at first. "Also, if a non-reservation holder places an order on July 28th and pays in full in advance, can they skip ahead of reservation holders that have yet to place an order or have not paid in full and thus get their auto a bit sooner?" asks a forum member in Tesla's discussion board. It's an aggressive schedule that will more than double Tesla's total production rate in six months, and then quintuple it by the end of next year. And build it did, with 325,000 signing up to buy the auto within the first week of pre-orders opening past year. This makes it faster than a BMW 3 series. Several automobile shows and plenty of customer reservations later, the first run of Tesla's latest electric cars have begun rolling out of the factory.
With its $35,000 base price, the Model 3 has been touted as a cheaper and more consumer-friendly version of the luxury Model S. The new sedan is smaller but is expected to feature the same self-drive hardware and will have a range of about 215 miles.
Elon Musk first opened the door for pre-ordering the Model 3 electric vehicle over a year ago, and within days over 300,000 eager customers shelled out a thousand dollars each in deposits to have their names added to a very long waiting list. People who place new orders today won't receive their cars until the middle of next year, according to Tesla's website.
The Model X SUV was available in multiple configurations from the start and was beset with manufacturing and quality problems.
Elon Musk became the proud owner of the first of Elon Musk's Tesla Model 3 vehicles to roll off the production line this weekend and he, of course, took to Twitter to crow about it in an understated way: two pictures and the simple words "First Production Model 3". Further, the mass-market auto will be equipped with Autopilot. There will only be one display-the car's 15-inch touchscreen-with no additional gauges or heads-up-display projected at the windshield.
It's not quite as severe as "any color as long as it's black", but buyers of the Tesla Model 3 will have a very limited number of options to choose from - at least from the.