- Production of Tesla’s $35,000 electric vehicle, the Model 3, is expected to begin on schedule in July, with the first deliveries coming in late-2017.
- This vehicle will allow Tesla to compete with other affordable electric cars, such as the Nissan Leaf and Chevy Bolt, bringing the company’s EV brand to a new market.
From its incorporation of solar glass technology to its affordable $35,000 price tag, the Tesla Model 3 has been making headlines since it was announced. In the 36 hours following that announcement, Tesla secured over 270,000 preorders for the vehicle, but what’s even more exciting is the fact that this highly anticipated zero-emission car may actually arrive on time.
According to a letter to investors, the Model 3 is expected to begin production in July, and deliveries will begin later in 2017. Tesla is already building prototypes of the vehicle, and the company has noted that production will begin at 5,000 vehicles per week and slowly ramp up to 10,000 vehicles per week in 2018.
With that said, Tesla’s Gigafactory will be booming. With 550 new hires and an additional $350 million investment, the Nevada factory will produce the electric motors and gear boxes for the newest and most affordable Tesla, while other parts will be manufactured in California.
Tesla’s most recent rollout, the Model S, costs around $70,000, so the Model 3 will be just what the company needs to finally be able to compete with other affordable electric cars like the Nissan Leaf and Chevy Bolt, which sit within a similar price range of the Model 3.
All we have to do now is count the seconds until the second half of 2017.