It's called the Model 3, and we finally have a release date

By Aric Jenkins
Updated: July 3, 2017 2:19 AM ET

The release date for perhaps the world’s most anticipated automobile has been revealed at last.

Elon Musk announced late Sunday on Twitter that the first production Tesla Model 3 vehicle is expected to roll out on Friday, with the electric car having “passed all regulatory requirements for production two weeks ahead of schedule.”

He then revealed in subsequent tweets that a handover party for the first 30 Model 3 owners will be held on July 28, while production is expected to “grow exponentially” from 100 cars in August to over 1,500 in September, before probably reaching a production pace of 20,000 vehicles a month in December.

The Tesla CEO had previously said the production version of Tesla’s newest vehicle would be showcased in July. Musk unveiled the concept edition of the Model 3 in March 2016, prompting thousands of eager customers to place advance reservations for the car.

Musk’s latest reveal came to a head after a Twitter user pleaded with the CEO to “have mercy” on Tesla fans.

“The speculation on the Model 3 final release date has to stop,” the user tweeted at Musk on Friday.

“News on Sunday,” Musk replied.

The Model 3 is being billed as a mid-range, consumer-friendly option and is Tesla’s cheapest vehicle to date. The four-door sedan is equipped with autonomous, “autopilot” maneuvering and supercharging capabilities across Tesla’s nationwide network of chargers.

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