Tesla Model 3 Release Date: Do We Know Delivery Dates Yet?

BUSINESS Tesla's Model 3 has'mass appeal' but that doesn't mean you can afford it 29 Jul 2017 11:05am 5 minutes to read Tesla Model 3

The billionaire entrepreneur has handed over the first batch of the company's new Model 3 electric cars to employee buyers outside its Californian factory. Tesla boss Elon Musk has made a few announcements about the new compact auto that will seat five adults, but he may have a few surprises up his sleeve.

Tesla Model 3 is the most important product for Elon Musk not just in the U.S but also globally, a troubled launch in U.S could saturate its pre-bookings in other parts of the world, while a smooth delivery of Model 3 would ensure steady profits which will result in the company not going to capital markets to fund its operations.

This is partly because the Model 3 was designed with the long view of autonomy in mind. Tesla has already sold more than 126,000 vehicles since 2008, according to estimates by WardsAuto, so not everyone who buys a Model 3 will be eligible.

Now that the vehicle has officially launched, Tesla CEO Elon Musk revealed all the juicy details that the company has been reticent to divulging up until this point. The standard battery on the base model, which Tesla said will come this fall, will have a range of 220 miles.

Production of the electric vehicle aimed at the broader market-with a starting price of $35,000 - will ramp up quickly, according to Musk, with 100 in August and 1,500 or more in September. And from the looks of it, Musk's plan to force a change in the automobile industry is gaining momentum.

FDA considers lowering nicotine in cigarettes below addictive levels
However, smoking in the United States is at an all-time low, with just 15 percent of adults still lighting up. Health care and lost productivity costs come in at almost $300 billion annually, according to the FDA.

"The key fundamental question is whether Model 3 can be delivered in volume, at decent margins and with good quality", Toni Sacconaghi, a Sanford C. Bernstein analyst, wrote in a note to clients Thursday. "We wanted to make a vehicle everyone could buy", Musk said.

Production of the electric vehicle aimed at the broader market-with a starting price of US$35,000 (RM149,901) - will ramp up quickly, according to Musk, with 100 in August and 1,500 or more in September. Those additional features include self-driving hardware and enhanced autopilot software.

"Frankly, we're going to be in production hell", Musk told a crowd of hundreds of Tesla employees Friday behind its assembly plant in Fremont, California. Customers can also spend a little more for the $44,000 long range version, which offers a 310 mile range, top speed of 140mph, and 0-60mph time of 5.1 seconds. The particular variant can go from 0 to 60 miles per hour in just 5.1 seconds with the capability to go up to 140mph in its top speed.

Created to be smaller, simpler and easier to assemble than its bigger sibling, the Model 3 is also priced to compete in the heart of the auto market. "A year from now, if he hits the goal and is selling half-a-million cars to overwhelmingly satisfied customers, even the skeptics might dub him Iron Man". The 500,000 vehicles Tesla vows to produce next year are almost six times its 2016 production.

Like its predecessors, the Model 3 is fully electric and on-board computers can handle driving tasks.

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