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Tesla Model 3, first mass-market car, hits production on Friday

Tesla Model 3, first mass-market car, hits production on Friday

Tesla’s founder Elon Musk used to impossible (for other people) things like the production of the first mass-market Tesla Model 3 car. On Friday, the Model 3 will begin rolling off the line.

Tesla Motors’ chairman, CEO and product architect gave the green light to the production of the revolutionary Tesla Model 3 car. On Friday, July 7, the first mass-market car of this series, will begin rolling off the line, while the deliveries start July 28, 2017.

Elon Musk wrote on Twitter that production would increase quickly, with 100 Model 3s produced in August and 1,500 or more in September. According to Tesla Motors CEO, the company to be able to produce 20,000 electric cars per month beginning in December.

Model 3 as the critical test for Musk’s vision

The Model 3 is a litmus paper for Musk and his vision of the modern world and the contemporary business. The inventor has the ambitious plan to turn Tesla into a producer of mass-market electric cars.

Until now, Tesla Motors has produced luxury cars in small numbers, their price tag varies close to $90,000. The results of 2016 showed about 85,000 sold vehicles. In comparison, General Motors produced more than nine million cars and light trucks.

Model 3: car price and Shanghai plans

Elon Musk said that the Model 3 will be priced around $35,000, such a price tag will allow car reach a wider range of customers and push company’s output to 500,000 cars a year in 2018.

The recent Tesla shareholder meeting was discussing the issue of additional assembly plants because Fremont line hasn’t enough space, and the plant is bursting at the seams. Chinese officials and Mr Musk have already discussed the possibility of the opening a plant near Shanghai. China accounted for about 15 percent of Tesla’s revenue in 2016.

In general, the investor optimism about the Model 3 has pushed Tesla shares up about 67 percent this year — last Friday, shares closed at wonderful $361.61.