Tesla Confirms Model 3 Preorders for $35000, to be unveiled in March

Tesla is set to hit the mass market, recently confirming that the Tesla Motors Model 3 will begin accepting preorders in March for $35,000, a price that drops to as low as $25,000 with federal and state subsidies.

In an earnings report released, the company has revealed that the forthcoming sedan will be priced at US$35,000, a price point it targeted back in 2014. It is unclear exactly what details will be revealed next month, with Tesla CEO Elon Musk himself telling analysts he hadn’t yet made up his mind on how much of the car to show off.

Musk has previously stated that preorders will begin after the March unveiling, and that a fully operational Gigafactory is needed before production of the Model 3 can commence.

According to the report, with a projected positive cash flow for the 2016 year, the company plans to then invest in “equipment to support cell production at the Gigafactory, begin installation of Model 3 vehicle production machinery, open about 80 retail locations and service centers, and energize about 300 new Supercharger locations.”

This leaves it on schedule for production and deliveries in late 2017. Previous indications are that the car will be smaller than the Model S with a range of over 200 mi (320 km).

Agencies/Canadajournal