Sunday night Elon Musk announced, via Twitter, that the first consumer version of Tesla’s Model 3 was expected to be made on Friday. Tesla’s highly anticipated car has been dominating the company, and owners cannot wait to get their hands on their own Model 3. What’s the big hype? Lets find out.
The Model 3 was first unveiled a little over a year ago. At the launch, Musk was fairly certain that the company would be able to make deliveries on the $35,000 car by the “end of 2017” and it looks as if that is going to be the case. The Model 3 is ahead of schedule as the first consumer version of Tesla’s Model 3 was expected to be made on Friday. The first 30 Model 3 customers will receive their new Teslas on the 28th of July at a “handover party,” according to Musk himself. Musk then shared plans to increase production to 100 cars in August, at least 1,500 in September, and around 20,000 per month in December. Production is expected to be at full throttle by early 2018 as Tesla has close to 500,000 preorders to fulfill.
Many have been itching for any news of the new car, however, Musk and his team have done a fairly good job on keeping a lid on most of the details. Last month, Musk did say that the first Model 3 customers would have a limited number of customization options. Musk links the decision to the complexity of having to build highly customized cars, but there should be more customization as Tesla ramps up production and begins to fulfill targets.
Tesla’s every growing valuation is going to be HIGHLY dependent on the success of the Model 3. Tesla’s current cars, the Model S and X, are very expensive as both can easily push the $100,000+ price range. Musk has been working to accomplish his plan of having the world run on electricity and an affordable, reliable, and safe electric car for the masses is the next step in that plan. With the Model 3 starting at $35,000, it is most definitely the future for Tesla, and if the car is a flop, Tesla will be in some serious trouble.