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The first batch of Tesla’s newest vehicle, the Model 3, will be delivered to clients by the end of July, CEO Elon Musk disclosed in a series of tweets earlier this week.
Regulatory hurdles were cleared a fortnight ahead of schedule, and thus Tesla will be able to deliver 30 Model 3’s to their owners at an event scheduled for July 28.
According to Musk, Tesla projects to produce 100 Model 3’s in August, 1,500 in September, and by December, the assembly line should be able to churn out 20,000 units. It plans to produce 500,000 Model 3’s in 2018.
If the number of reservations for the car is anything to go by, then there just may be a market for all those cars; as of August last year, there were more than 300,000 reservations made for the car, which had only been announced six months prior.
The Model 3 has been introduced for the mass market, a significant departure from Tesla’s niche in luxury electric vehicles; while Tesla’s Model S and Model X range in price from $70,000 to $120,000, Model 3 will start from a base price of $35,000.
The Model 3 has been described as an affordable version of the Model S, but the whole list of cost cutting measures hasn’t been revealed, though some are apparent.
But while the range may seem small in comparison to other Tesla cars (the Model X SUV has a range of 295 miles), it is considerably large when compared to other would-be competitors.
These include the Nissan Leaf, which retails at around $31,000, but has a range of 107 miles, and the BMW i3, which retails at $42,000 and has an extended range of 180 miles.
The Chevrolet Bolt EV is among the few that beats the Model 3’s range, covering 238 miles in a single charge.
But it just doesn’t beat the Model 3 in its aesthetic appeal.