The next Tesla is here, and it's a auto for the people

Above Tesla Model S

"This is a great day for Tesla", Musk told reporters Friday.

As Tesla CEO Elon Musk admitted, "It's going to be quite a challenge to build this vehicle". The original version of this report can be read at

Deliveries kicked off Friday night with the company's usual amount of fanfare.

Electric auto manufacturer Tesla has delivered the first 30 units of their new Model 3 sedans. IPG Investment Advisors LLC's holdings in Tesla were worth $6,651,000 as of its most recent filing with the SEC.

The KeyBanc team found something very odd with this updated number, however. They believe that the preorder number is now "the most important metric and basis for the stock". Finally, FBN Securities boosted their price objective on Tesla from $275.00 to $425.00 and gave the company an "outperform" rating in a research report on Monday, April 3rd.

In a timeline posted on the Tesla website, it is revealed that production - which boss Elon Musk has described as "Hell" - will ramp up in November until 5,000 cars are being built every week in December. In only three days, it had received more than 276,000 reservations for the auto.

We are days away from the official unveiling and deliveries of the all-new Tesla Model 3 but we don't have to wait until then to get a better idea on what the vehicle will have to offer.

Tesla's first three vehicles - the Roadster, Model S and Model X - were quite expensive with prices approaching and exceeding $100,000.

Above Tesla’s CEO Elon Musk
Above Tesla’s CEO Elon Musk

With a starting price of $35,000, the Model 3 comfortably undercuts Tesla's luxury Model S electric vehicle, and carries with it the hopes of company founder Elon Musk that the firm can challenge mainstream automakers. Their base price is $44,000, so the company turns an even bigger profit on them than it does on the $35,000-base model with the smaller battery.

But Musk says Tesla worked hard to make the Model 3 simpler and cheaper to make than Tesla's previous vehicles. The traditional instrument cluster was removed to maintain the seamless interior and important gauges can be seen on the center screen.

Other key specifications include a 15-inch touchscreen display, dual-zone climate control, navigation, wi-fi and LTE connectivity, keyless entry, remote climate control, backup camera, full-LED exterior lighting, electric parking brake, and seven exterior cameras and 12 ultrasonic sensors to direct the car's active safety features.

New buyers can not expect to get a Model before the end of 2018. The Model 3 showed no noticeable changes from its earlier test versions.

Squeamish about producing non-luxury cars??

So if you're a Tesla fan in the United Kingdom, you'll have to wait a couple of years before you'll be able to get into the driving seat of a Model 3.

"As far as service is concerned, we're adding a tonne more service centres, as well as...the ability to service cars at people's homes". "We're going to go through at least six months of manufacturing hell", he said as he addressed the media during the event.



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