Tesla’s hotly anticipated Model 3 car will finally enter production this week.
Come Friday, consumers can at last acquire what is now the most affordable Tesla, according to a tweet from CEO Elon Musk.
The five-seater, which starts around $35,000, can surpass 200 miles on a single charge.
Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday
— Elon Musk (@elonmusk) July 3, 2017
Musk expects Tesla to be able to produce up to 5,000 Model 3 sedans per week through the end of the year, delivering in hundreds of thousands of preorders. Those placing deposits now could be waiting until the end of 2018, despite production doubling next year, says Musk.
Tesla’s market valuation is more than $57 billion, which places it ahead of many major automakers, despite selling a fraction of the motor vehicles that incumbent automakers do. If popular, the financially accessible Model 3 could finally prove the company’s business model is sustainable and its high market value justified.