Tesla to Start Making Model 3 This Week

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Tesla to Start Making Model 3 This Week

The Model 3, an electric-powered auto selling for about $35,000, is a crucial test for the company and its plans to make affordable electric vehicles available to a wide range of customers.

However, as Musk notes, production of the Model 3 is increasing "exponentially", and in August there will be 100 of them ready for buyers, then 1,500 by September, and so on. On the 28, the first 30 deliveries to customers will take place at a handover party. These lucky few will be the envy of the Tesla world: over 400,000 people have put down a deposit to order the $35,000 auto as soon as it hits the roads.

Mr Musk has previously said his goal is to produce about 500,000 vehicles a year once production is at full capacity.

The Model 3 is a critical test for Mr Musk and his ambitious plan to turn Tesla into a producer of mass-market electric cars. Basically this means that this month Tesla will make only about 30-40 Model 3 vehicles. So far, Tesla has sold only expensive luxury electric cars.

But the Model 3 will be priced around $35,000 (1.2 million baht). Note that the number of pre-orders for the Tesla Model 3 are close to 400 000. Tesla will only offer limited configuration options for the Model 3, and unlike with the Model S and Model X, owners will not get free lifetime access to the company's network of fast-charging Superchargers. China accounted for about 15% of Tesla's revenue in 2016. The first ever Model 3 will roll out of the factory on 7/7/2017 on Friday. But Tesla has also lost $2.3 billion in the past five years.

Musk's latest reveal came to a head after a Twitter user pleaded with the CEO to "have mercy" on Tesla fans.

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