Brand News #2
Tesla’s sky-high
valuation which recently surpassed BMW’s market cap depends largely on Elon Musk’s
ability to sell his vision of sustainable, battery-powered driving to a much
broader population. The two current Tesla vehicles, the Model S and Model X,
are both extremely expensive. Even with tax incentives, both cars easily go
beyond $100,000
In order for Tesla to reach
the masses, it needs a much cheaper automobile. That's the Model 3. It's the
future of the company and starts at $35,000, making it the cheapest in Tesla’s
range.
Deliveries of the
Tesla Model 3 will commence from July 28, 2017. This information was revealed
through a series of tweets by Musk.
The entrepreneur,
through one of his tweets, announced that the Model 3 has passed all regulatory
requirements for production. Thus, production of the car will commence in the
coming weeks. The first batch of 30 units of the Model 3 will be delivered to
customers on July 28. The company is hoping to increase production in the
following months and deliver 100 cars in August and over 1,500 cars in
September. The CEO has also revealed that the company is aiming to produce
20,000 cars every month from December 2017.
Bookings of the Model
3 had started after it was unveiled in March 2016. Tesla claims to have
received over 4,00,000 orders for the car. Hence, the company is trying to
accelerate production to meet the demand.
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