Automotive

Tesla confirms March unveiling for $35,000 Model 3

Tesla confirms March unveiling...
The Tesla Model 3 will be Tesla's fourth production vehicle, following the Roadster, Model S (pictured) and Model X
The Tesla Model 3 will be Tesla's fourth production vehicle, following the Roadster, Model S (pictured) and Model X
View 1 Image
The Tesla Model 3 will be Tesla's fourth production vehicle, following the Roadster, Model S (pictured) and Model X
1/1
The Tesla Model 3 will be Tesla's fourth production vehicle, following the Roadster, Model S (pictured) and Model X

Tesla's long-term strategy to bring electric vehicles to the masses appears on track, with the company today confirming that its long-anticipated, more affordable Model 3 sedan will be revealed on March 31.

In an earnings report released today, the company has revealed that the forthcoming sedan will be priced at US$35,000, a price point it targeted back in 2014. It is unclear exactly what details will be revealed next month, with Tesla CEO Elon Musk himself telling analysts he hadn't yet made up his mind on how much of the car to show off.

Musk has previously stated that preorders will begin after the March unveiling, and that a fully operational Gigafactory is needed before production of the Model 3 can commence.

According to the report, with a projected positive cash flow for the 2016 year, the company plans to then invest in "equipment to support cell production at the Gigafactory, begin installation of Model 3 vehicle production machinery, open about 80 retail locations and service centers, and energize about 300 new Supercharger locations."

This leaves it on schedule for production and deliveries in late 2017. Previous indications are that the car will be smaller than the Model S with a range of over 200 mi (320 km).

Source: Tesla (PDF)

18 comments
watersworm
Great ! And digging profoundly the huge financial losses of the company ?
Daishi
They shipped a bunch of model S's last year with sales up like 60% year over year. The PDF states reliability has improved (by 50%). Gigafactory seems to be on schedule. X is shipping, the 3 reveal/production is on the schedule still and despite explosive growth and aggressive expansion they are projecting to be cash flow positive by the end of the year. Powerwall seems to have been a success and is growing as well.
Ramping up Model X shipments is off to a slow start but for a company whose stock is down 40% for the year the news doesn't seem all that bad.
gizmowiz
watersworm: Those loses are because it's reinvesting 90% of it's available funds each and every month into the gigafactory. Once that's done the real profitability of Tesla will be known to all.
Nicolas Zart
I think an important point not covered is that Tesla plans to offer the performance version first, which is an interesting strategy, since the Model 3 is supposed to be the affordable version of a Tesla.
Joe Mamma
Ok, and what percentage of the cost will be subsidize by the taxpayers?
No more cronyism!
have a feeling this is going to be another Chevy Volt. Over hyped car with a bunch of fancy gadgets but offers no real value to the average consumer.
Until a car can be produce that has a range of 300 miles on one charge and batteries can be recharged in 15 min, all we have is a car for the environmentalist loon who cares about the environment and is willing to pay more than a vehicle is worth just to feel good about it
Dan Werner
Would definitely be interested at that price range but any alternative power source is on my radar(price is always the first stop).
habakak
Joe Mamma....NO CAR IS ENVIRONMENTALLY FRIENDLY!!! Electric cars are the future. ICE cars did not start of cheap either. Let's forget about the energy consumption to power the vehicle for am minute. Think about the industrial process to manufacture the vehicle and all the energy going into producing it and all of its parts. ICE or electric, it's dirty and messy and NOT environmentally friendly. So cry me a river. Transportation is necessary. The big benefit of electric cars are that they are 3 times as efficient as a comparable ICE car. No matter whether it's coal or oil powered. 3 times the efficiency is what it's about. And eventually you can power the electric car with 100% renewable energy.
steveraxx
Really tired of the comments from guys who do not even know what the salinity of the water they are standing in is. Yet the blather on about things as if they were not illiterate.
Bully Tesla.
SJC
Joe Mamma - the hydrocarbon industry is subsidized so why can't clean cars be subsidized? If there were zero subsidies across the board I would agree.
Joe Mamma
They sure are making it sound as if people are lined up to buy his cars. Let's face it, the electric car industry has been an utter failure! what's going to make the Tesla different or better than any electric car currently on the market? NOTHING? Same car that can only go 40 miles on a charge with expensive batteries that take hours to recharge.
Publicity hype and nothing more