Tesla Model 3 Production Starts In July, To Be Pricey This Year

Tesla Motors Inc. has an exciting 2017 laid before it. Tesla Model 3 is maybe the highly anticipated electric car in history. There is no doubt that the successful debut of the Model 3 will sit at the top of the company's highlights this year. Its Autopilot self-driving system promises to only improve, thanks to software updates to the hardware, However, with the firm's next quarter earnings report just right around the corner, reservation holders can look forward to more insight on how the company is progressing.

Tesla Model 3 Production 

Tesla CEO Elon Musk set July 1 as the day when the Model 3 will start mass production. But with design changes, a recent history of missing deadlines, and production delays, it's uncertain if Tesla will hit its deadline. According to a source, Tesla announced in early February that it would begin test-building the Model 3 on February 20. Preparation for the test-building halted production at Fremont, California assembly plant for a week. "The date we are setting" internally, and externally with suppliers, for the Model 3, is "July 1 next year," said Musk, last May 2016.

Tesla Model 3 Price

Tesla is yet to release full details on the pricing strategy for Model 3, aside from the fact that the car will have a base price of $35,000. According to the reports, a little hint from CEO Elon Musk, that the fully-loaded version of Model 3 can cost more than $50,000. Tesla founder said that the average price of a Model 3 is roughly around $42,000. Some of the Model 3 owners will also get the $7,500 tax benefit in the US, making their cars even lesser. But for now, the company has tough competition in the low-cost EV market as GM Chevy Bolt is available for $37,000, and with the federal tax rebates, its price reduces to less than $30,000.


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