Excitement mounts as Elon Musk – co-founder, CEO and Product Architect of Tesla, Inc. (NASDAQ: TSLA) – takes to Twitter and announces a release date and handover party for the new Model 3. The Model 3, Tesla’s consumer-friendly model with a starting price as low as $35,000, is set to be released at the end of July, with a handover party featuring the “Model 3 SN1” to galvanize the audience.
Tesla will be unveiling thirty new Model 3’s by the end of the month and have already outlined their release plans for the well-received newcomer. By September, Tesla plans to release 1,500 Model 3’s and 20,000 by the year’s end. They have plans to release 500,000 by 2018 and $1-million by the year 2020. “Production grows exponentially, so [August] should be 100 cars and [September] above 1,500” tweeted the 46-year old CEO. “Looks like we can reach 20,000 Model 3 cars per month in [December].”
If the electric automotive pioneer can stick to that timeline, Tesla can take the necessary steps to corner their market. Considering that their Model X SUV was delayed nearly 18 months, this would be quite the feat for Tesla. The public received a positive sign this morning as Musk tweeted, “Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday.”
This comes as good news being that Tesla has many other car companies on their heels with electric versions of their own either currently in production or in the planning phase. Interestingly enough, the race for self-driving cars has been heating up between Google, Uber and Apple which really clouds up the picture of the automobile industry as a whole whereas no one knows who next will come out with new technology that is sure to make the last one obsolete.
As the end of July draws near and anticipation for the future of automation reaches a fever pitch, one thing is for sure… No matter who ends up on top, tech wins!