Tesla, the American automotive and energy storage company that first manufactured a fully electric sports auto called the Tesla Roadster, has unveiled the cheapest electric vehicle model to date which is called the Tesla Model 3.
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The release date for Tesla Model 3 has been announced to be next year, but the pre-orders have already started coming to the tune of a quarter of a million units. The automaker’s statement, which appears to have been written by CEO Elon Musk himself, said that a mere half dozen parts, out of 8,000 in the Model X, were the cause of the slowdown in the production.
The electric carmaker’s latest sedan is the auto that it hopes will make a mark on the mainstream market, and if sales figures at all reflect the amount of interest in pre-orders then Tesla could be onto a victor. However, the credit is only eligible for the people who buy the first 200,000 cars of any particular model vehicle.
Tesla shares bolted $7.87 higher, or 3.3%, in early morning trade on Monday, to $245.46 USA, within a 52-week trading range of $141.05 to $286.65 U.S.
Tesla however, has also reaffirmed that it is on track to deliver 80,000 to 90,000 new vehicles in 2016.
The car’s average selling price projected by Musk is well above the $35,000 base price. Musk said he feels “confident” the company will meet its goal of delivering the first Model 3 vehicles in late 2017.
Tesla has undertaken a costly expansion of the Fremont plant, aiming to boost annual capacity to 500,000 by 2020, with production of the Model 3, the company’s first mass-market vehicle, ramping up slowly through 2019.
The surprising number of reservations for the Model 3 put more pressure on Tesla to actually deliver the auto on time, according to industry analysts.
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