Finally, Tesla has released information about the Model 3's price and unveiling. Tesla Motors Inc. had been quiet about the Model 3 but all that has changed.
Those who have followed Tesla's success have had their concerns about the pricing of the Model 3. Some have even voiced their concerns that the auto-maker's ambitions to cut the price of Tesla Motors, Inc.'s vehicle down to half won't happen.
Now, just a month to go before the auto-maker will finally show the vehicle to the public, Tesla still remains positive on pricing the car at $35,000. The car is going to roll into production in less than two years.
Khobi Brooklyn, explained to Bloomberg that they haven't changed their minds about the starting price. "We can confirm it's $35,000 before incentives," says Brooklyn.
The schedule of the Model 3 is still reported to be "on time" and the unveiling will definitely happen in March, as confirmed by the company. Deliveries for its first few orders will be sent to customers by the end of 2017.
Tesla has not released much information about the car but said that everybody will learn more about its updates during the unveiling.
The critical slicing of the car's value in half is a big move for Tesla to expand its market. If the unveiling does go as planned, Tesla will be able to capture the demand for electric cars at a much more reasonable price. Tesla Motors is in full support of the Model 3 vehicle and the industry is looking at the launch to overshadow General Motors' Chevy Bolt.
Tesla has repeatedly described the Model 3 to be like BMW's 3-Series which was successful at a starting price of $35,000. For those close to the company, investors will likely have a much more substantial update on the Model 3 when Tesla reports fourth-quarter results today after market close.
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