Two variants of the Model 3 will be offered - standard and Long Range.
The Tesla Model 3 event on Friday was short but well scripted, with design and factory staffers delivering speeches about the work that went into building the Model 3. Tesla has already sold more than 126,000 vehicles since 2008, according to estimates by WardsAuto, so not everyone who buys a Model 3 will be eligible.
It was a pivotal moment in Tesla's evolution from a manufacturer of luxury electric vehicles to a producer of mass-market cars. Deliveries of the more expensive sedan will start first, with those of the base auto beginning in the fall. Only 30 customers will receive the first lot of cars from the production house.
Potential customers also could lose faith if Tesla doesn't meet its aggressive production schedule, or if the cars have quality problems that strain Tesla's small service network.
The Model 3 has always been part of Palo Alto, California-based Tesla's plans. It's the culmination of Tesla's decade-long quest to build that more affordable electric auto. "We're going to go through at least six months of manufacturing hell", Musk told journalists.
Add an upgrade package that includes a tinted roof, plus heated and power seats, a paint color other than black, bigger wheels, the autopilot driver-assistance system and a future upgrade to full self-driving capability, and a fully optioned Model 3 will cost $59,500.
Musk has mentioned in Tesla earnings calls that while early models were packed with innovative engineering, they caused vexation on the assembly line.
"You won't really need to look at an instrument panel all that often", Musk said during the Model 3 launching event. But Musk was more specific on Friday night, when the company made its first deliveries of the new auto.
Created to be smaller, simpler and easier to assemble than its bigger sibling, the Model 3 is also priced to compete in the heart of the auto market. The long-range version goes from 0-60 miles per hour (96.5 kph) in 5.1 seconds and has a top speed of 140 miles per hour (225 kph). With this payment, you get a Model 3 equipped with Autopilot hardware, Supercharging, seating for five adults, 310 miles per charge, 0 to 60 mph performance in 5.1 seconds, and a top speed for 140 mph.
The company has pledged to produce 500,000 of the vehicles next year, which would be nearly six times the number it produced last year.
His Boring Company is part of a vision for near-supersonic rail travel through low-pressure tubes that he laid out in a Hyperloop white paper he made open to other entrepreneurs. "A year from now, if he hits the goal and is selling half-a-million cars to overwhelmingly satisfied customers, even the skeptics might dub him Iron Man".
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