The highly anticipated Tesla Model 3 is ready to go into production as soon as this week, Tesla CEO Elon Musk confirmed.
Musk took to Twitter to announce that the company's first mass-market vehicle got the green light for production two weeks ahead of schedule. The Tesla Model 3 will go into production this Friday, July 7.
Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday
— Elon Musk (@elonmusk) July 2, 2017
Passing all regulatory requirements for production marks an even more impressive achievement for the Model 3 considering that the company's last electric vehicle had some production issues. As a reminder, the Model X had some glitches with the doors, the rear seats, and the parking brake. Tesla has apparently learned from its mistakes and has come a long way, with the Model 3 acing production requirements two weeks in advance.
Tesla Model 3 Availability
The first 30 Tesla Model 3 customers will get their shiny, new cars later this month, at a handover party scheduled for July 28. Tesla will gradually increase production to 100 vehicles in August and more than 1,500 by September. By December, the company aims to hit 20,000 units per month.
The Tesla Model 3 aims to make the electric vehicle available and affordable to the masses, inching one step closer to making it mainstream. The Model 3 already racked up more than 400,000 preorders and raised great interest, and it's only expected to grow in popularity as it becomes more readily available. The company is expected to significantly boost Model 3 production next year, with Tesla's total car production nearing 500,000 vehicles per year.
Tesla Model 3 Mission
So far, Tesla has mainly produced luxury vehicles with relatively limited availability. The vehicles sold for $90,000 or more, which made them seem more elitist than other cars out there. Tesla wants to change that, and the Model 3 marks an essential milestone in the company's journey, arriving as a far more affordable electric vehicle targeting the mass market.
The Tesla Model 3 will have a starting price of roughly $35,000 and the initial configurations of the vehicle are pretty simple, without many customization options. Customers will be able to choose their preferred wheel type or color, but other than that Tesla will keep things in line. At just $35,000, Tesla aims to make the Model 3 the best car for its price, even if it doesn't offer advanced customization options. Affordability should play a great role in the vehicle's success and the Model 3 is expected to appeal to a much wider range of customers than previous Tesla models. Tesla is keen on making environmentally-friendly solutions accessible to more people, and the Model 3 electric vehicle is a big part of that vision.
If Tesla meets its ambitious goals for production, the Model 3 could prove to be among the top 20 best-selling cars in 2018 in the United States. Current Model X and Model S vehicle owners will be the first in line to get the new Model 3, after which preorder customers will get their Model 3 based on when they placed their preorder.