Tesla Model 3 Still on Schedule, For Serious

No, really! Honest!

byEric Brandt|
Tesla Model 3 Still on Schedule, For Serious

While Tesla is doing what they do best (burning through tons of cash) the company assured investors that the new Model 3 was still slated to start production in July of this year. There's a lot at stake for investors considering Tesla's stock is now more valuable than that of Ford and GM which are businesses that make profits.

It's hard to imagine a bad future for Tesla if the upcoming Model 3 can deliver on its lofty promises. But, that's a pretty big "if". The rollout of the Model X crossover was a messy one riddled with build problems and parts shortages. Elon Musk learned from his Model X mistakes and says the new Model 3 sedan was designed to be easy to build. Musk is marketing the Model 3 to investors as just being "a smaller, more affordable version of Model S,” with “less range and power and fewer features.”

Well when you put it that way, Elon, the Model 3 doesn't sound that desirable.

When the Model 3 eventually comes out it's expected to have a starting price of $35,000 (before incentives) which is very similar to competing entry-level luxury cars. Rage is expected to be a respectable 215 miles. About 400,000 people have pre-ordered the Model 3 after the first concept was unveiled last March.

Deliveries of the Model 3 are expected to begin in the second half of 2017. Tesla is hoping to produce up to a half million cars per year and if you reserve a Model 3 now, you might get it in late 2018, but you might be waiting even longer. Sticking to the production schedule is the first step in making the Model 3 a hit.