Tesla's model 3 an electric car for the masses!

Tesla co-founder and chief executive Elon Musk has shared the first images of company's Model 3 after it came off the assembly line. 

Mr Musk tweeted a picture captioned "First Production Model 3" on Saturday.

The entrepreneur followed it up with another Model 3 photo, this time in colour, outside the Tesla factory site in California.

The Model 3 is Tesla's first mass-market car and the first 30 owners will get in the driver's seat on 28 July. Tesla will hold a party to handover the first 30 Model's to US customers on 28th July like it has done for the launches of Model S and model X in the past.

Tesla will produce 100 cars in August, Musk said, but 1500 cars are anticipated in septemer and by December the model 3 will reach a production rate of 20000 per month. The car isnt just a make or break vehicle for Tesla it indeed is a litmus test whether electric cars market can go mainstream achieving niche sales levels. Tesla has reportedly gathered more than 400000 refundable deposits for the model 3 at $1000 per car.

To prepare for the additional Model 3 in its line up, Tesla has built a $5 billion factory in nevada to produce batteries for its electric cars. Tesla has also bolstered its coffers. This year it has raised $1 billion through offering of stock and debt. A chinese internet giant, Tencent holdings has acquired a 5% stake in the company.

The company needs the extra capital ecause it continues to post losses in most quarters. In the first quarter of this year, Tesla lost $397 million, compared with a loss of $282 million in the previous year but its revenue has doubled to $2.7 billion.

Even with the swoon in sares monday, investor optimism about the Model 3 has pushed Tesla shares up about 65% this year. The company has a market value of $58 bilion, about $4 billion more than GM and $12 billion more than Ford Motors which are among the largest car manufacturers in the US if not in world.

The design matches that of pre-production car that was displayed at Tesla gigafactory in sparks, nevada July of last year 

The four-door Model 3 will then be available to the public, with a base price of $35,000 (Rs 2259250) almost half that of the Tesla's next-cheapest model.

Citing the Model X's complexity and initial difficulties, musk said Tesla had intentionally kept initial builds of Model 3 as simple - and much closer to the Model's claimed $35000 base price than earlier suspected. Versions with an all wheel driver and higher performance variants will be followed up in few months or a year later.

Here's the link to the specifications 

https://www.tesla.com/model3

If Tesla manages to launch at the price of US launch in emerging markets like India it has a blockbuster of a Car which can propel Tesla to become the largest electric car manufacturer in the world if not US by making affordable electric car for the masses.

Here is a video of delivery of the car. 

 https://youtu.be/w2_5-bJUEMY

Well i would love to get my hands once Tesla enters my country(India), of course it is the only car which is affordable for the masses.

What do you guys think of Model 3 would you consider buying it, post your comments below.
 

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