Tesla chief executive Elon Musk announced that the electric car-maker's new Model 3 sedan will start rolling off the company's Fremont assembly line this Friday - two weeks ahead of schedule. The first batch of 30 units of the Model 3 will be delivered to customers on July 28.
The Model 3 has passed all the regulatory requirements two weeks prior its schedule..
Musk says Tesla hopes to be able to make 20,000 Model 3 vehicles per month in December. Before options, each auto will be sold for around $35,000, with a range of up to 215 miles.
Musk said that production will grow exponentially.
The Model 3, by contrast, will only be customisable by wheel type and colour.
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The Model 3 will not be offered with extensive customisation options, unlike the Model S and Model X, as this will complicate and slow down the production process.
Tesla Model 3 at a glance What is the Tesla Model 3?
Excitement mounts as Elon Musk - co-founder, CEO and Product Architect of Tesla, Inc. That marked a 53% increase over the same time previous year, but the numbers only helped the company reach 47,100 deliveries in the first half of 2017.
Tesla has done good work producing electric vehicles, Tamberrino said February, but "our concerns are more near-term oriented with respect to operational execution on the Model 3 launch, an unproven solar business, and cash needs".
While the auto will likely prove popular - at least in electric vehicle terms - the lower-margin midrange market may not be the boon for Tesla that many are hoping for. It received the regulatory approval to begin to build its Model 3, which will carry a price tag of between $30,000 and $40,000.
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