Tesla Motors Inc. said buyers who place new orders for Model 3 vehicles can expect to begin receiving deliveries as soon as mid-2018, with production starting as scheduled late next year. To dispel any misunderstandings with customers who’ve placed pre-order deposits and those considering, the automaker announced it wants to clarify timing for the long-anticipated electric car.
The Model 3, which is slated to begin at $35,000 before government incentives, is the key to Tesla’s plan to create a larger market for EVs. The company first unveiled the Model 3 at an event at its Hawthorne, Calif., design studio on March 31. In May, Tesla said it had received about 373,000 pre-orders for the car. Tesla’s update on the Model 3 came on the eve of another announcement scheduled to be made today. Analysts are speculating about a long list of possible company news, including that it could have something to do with an Autopilot update, a replacement for supplier Mobileye, or launching an entirely new vehicle.
Ben Kallo, a Robert W. Baird & Co. analyst says that possibilities may include enhancements to the S/X, energy storage products, or showing of a different class of vehicle. General Motors is counting on the Model 3 being the primary competitor for its Chevrolet Bolt all-electric car, and will now have about a year-and-a-half head start.
