That revolution Elon Musk kept preaching is about to happen.
The Tesla Model 3 is billed as the car that’s going to change the world. Or at least the car that will propel the company that's going to change the world into the position it needs to be in order for that change to happen. If the Model 3 wasn’t seen as such a big deal, then Tesla wouldn’t be the fourth most valuable car company on the planet. And now, further bolstering the young automaker’s charge forward, famed CEO Elon Musk has tweeted that the Model 3 is ready for its official reveal.
He took time during the late night hours of July 2nd to announce an important milestone. “Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday,” tweeted Musk. This is huge news, signifying that there are now no barriers standing between 375,000 preorder customers as of spring and their Model 3 sedans. All Tesla has left to do is build the cars. Musk followed the announcement with a chain of Tweets about upcoming Model 3 news. Musk mentioned that Tesla will hold a handover party where it will deliver Model 3s to the first 30 customers on July 28th. By the end of August, 100 production Model 3 sedans will have been built with 1,500 units following in September.
“Production grows exponentially,” said the CEO before ascertaining that the Fremont, California production facility will reach an output rate of 20,000 Model 3s per month by December. The news would effectively put Tesla ahead of schedule, for once, which certainly should help investors gain more confidence in the automaker that is notorious for its chronic tardiness. This news bodes well for Tesla, but what we really want to see is how well the entry-level make-or-break sedan will perform in the real world and on the Tesla store showroom floor. One of Musk’s twitter followers begged for more news about the Model 3, to which Musk responded with a claim, promising that more news would be released on Sunday.
If things go according to plan, Tesla will be churning out half a million cars per year by the end of 2018 and 1 million per year by 2020. This would certainly help justify Tesla’s recent market valuation, which seems to have found its way onto a Space X rocket and launched into the stratosphere. Tesla fans may want to pray that BMW's EV flops before the Model 3 takes over.