Tesla’s Elon Musk reveals when customers can pre-order the cheaper Model 3
The Model 3, the lower cost all-electric car that Tesla Motors CEO Elon Musk has mentioned in interviews and shareholder letters, isn’t expected to be in full production for a couple more years. The public doesn’t even know what this car will look like.
But according to the latest tweets by Musk, customers will be able to start pre-ordering the $35,000 vehicle in March.
In other words, you won’t have to be Oprah to own a Tesla.
Musk has used Twitter in the past to tease future products, debunk claims about Tesla products, and even his management style. His latest string of tweets offers a few tidbits on the Model X sport utility vehicle as well the Model 3, an electric car that’s supposed to be half the price of the luxury Model S.
To be clear, not everything in these tweets is new. In a second quarter letter to shareholders, Musk said Tesla (TSLA) planned to reveal the Model 3 design in early 2016 with deliveries expected in late 2017.
And the $35,000 price has been batted around before, although unofficially. A timeline for pre-ordering a Model 3—albeit a seemingly tentative and vague one—is new.
Of course, before the Model 3 can be produced, the company must be able to make a cheaper lithium-ion battery to put into the car. The electric automaker is building a $5 billion factory outside of Reno that it has said is designed with enough capacity to reduce the per-kilowatt-hour cost of its lithium-ion battery packs by over 30%. The factory is scheduled to be complete by the end of 2017.
Also on Wednesday, Musk dropped another date, this time for the first deliveries of the highly anticipated Model X sports utility vehicle. Deliveries of those will begin September 29.
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