Tesla CEO Elon Musk said his company’s lower-priced Model 3 electric car will go on sale on Friday. Musk wrote on Twitter on Monday that the company was two weeks ahead of schedule.
Tesla Model 3 Features:
The car is to start around $35,000 and with a $7,500 federal electric car tax credit, could cost $27,500. Tesla says the five-seat car will be able to go 215 miles (133 kilometers) on a single charge and will be sporty, accelerating from zero to 60 miles per hour in under six seconds. Tesla’s other models retail for more than twice the base price of the Model 3, and cost more than $130,000.Production begins mid 2017 ,Delivery estimate for new reservations is mid 2018 or later.
Tesla Model 3 Production:
Musk aims to produce hundreds of thousands of Model 3s next year, an ambitious goal. He has many believers, as reflected in Tesla’s stock price, which is up 66% year to date. But the stock also has attracted lots of short sellers who are betting on the price to drop as the company encounters problems with production, quality, sales and a lack of profits.
Making 30 cars the first month is an accomplishment of sorts. But the make-or-break drama will continue until Tesla proves that it can turn out Model 3s at high volume and accumulate more cash than it costs to build them.
Until recently, Tesla owned the market for fully-electric vehicles that can go 200 miles (324 kilometers) or more on a charge. But that’s changing. GM beat Tesla to the mass market with the Chevrolet Bolt, a $36,000 car that goes 238 miles (about 200 kilometers) per charge. Audi plans to introduce an electric SUV with 300 miles (486 kilometers) of range next year; Ford will have one by 2020. Volkswagen plans more than 30 electric vehicle models by 2025.