Tesla is expected to commence production of the entry-level Model 3 within the next 8 months.
During a recent tour of the Tesla Gigafactory near Reno, Nevada, Worm Capital was informed that for the moment, the electric automaker will remain focused on building high-spec Model 3s thanks to the higher-margins they provide. However, the long-promised $35,000 Model 3 will eventually be produced, with a deadline for April 2019 being set.
While many of those that pre-ordered the Model 3 two years ago did so to get the entry-level model, Tesla claims that it is receiving more orders for the All-Wheel Drive dual-motor and performance-focused variants. It remains to be seen exactly how many orders have been placed for the base model.
It’s finally coming
In June, Tesla chief executive Elon Musk confirmed that the $35,000 Model 3 was in the pipeline and said production will commence at the start of 2019.
“We will definitely offer a $35,000 version of the Model 3. And probably at the end of this year is when we will be able to make a smaller version of the battery pack, and get into volume production of $35,000 version in Q1 next year. We would definitely honor that obligation, and we would do so right now if it were possible,” Musk confirmed.
When it does eventually arrive, the base Tesla Model 3 will offer a range of 220 miles (354 km), accelerate from a standstill to 60 mph (96 km/h) in 5.6 seconds and continue through to a 130 mph (209 km/h) top speed.
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