Tesla confirms March unveiling for $35,000 Model 3
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)
Please keep comments to less than 150 words. No abusive material or spam will be published.
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.
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
Publicity hype and nothing more