Tesla can't get the Model 3 out fast enough. While they stay cool on the outside, I can't help but imagine their having a fit of panic and anxiety to develop it ASAP. It's arguably the automaker's most critical moment, putting them into a volume category that they've been missing out on. The Model 3's only real competition, the Chevrolet Bolt EV, already dropped in showrooms, making it a better time than ever to hustle. According to a recent report, Tesla has told investors that they will begin producing their mass market EV as early as July with full production beginning in September.
As we already know, this is going to be a make or break period for Tesla. Although they're always in the news for noteworthy developments, they've only been around for a little while, making their future dependent on times like this. It's projected to help Tesla's volume sales expand dramatically, developing it into an even sweeter honey hole for investors and market share.
Not only does Tesla have a lot riding on the Model 3, so do their shareholders. Despite Mr. Musk being mega-rich, he hasn't solely supported Tesla with capital, making a big group of lenders especially curious as to how this will play out for the company.
Things are looking up though as the Model 3 has a list of things going Tesla's way. Pricing for the electric sedan starts at $35,000, nearly a couple grand cheaper than the Chevrolet Bolt. That's good for future prospective buyers though not immediately relevant as Tesla has over 400,000 reservations for the Model 3 already. Lastly, it features a more conventional design language that may fit the demographic's taste a bit better. The latter is just an opinion, but take it as a keen observation.
Tesla plans to produce 500,000 cars annually by 2018. While the Model S and Model X could make up a portion of that, expect the majority to come from the 3. Tesla projects production from the first half of 2017 to increase 71 percent from last year, prepping for the swift surge in manufacturing.