No guys, they’re still not late.
While there have been rumours circulating that the production of Tesla’s most affordable product yet, the Model 3, may end up being delayed as late as 2018, the EV specialist company today reaffirmed its goal of getting the 3 off production lines by July.
There are some financial concerns regarding such a swift production schedule, however. Tesla’s CEO Elon Musk has, in a conference call with investors, clarified that he is looking to raise capital to cushion the company financially, rather than due to a lack of funds to get the Model 3 to market.
“According to our financial plan, no capital needs to be raised for the Model 3. But we get very close to the edge. We’re considering a number of options,” Musk said, “but I think it probably makes sense to raise capital and reduce risk.
In the same conference call, the CEO commented that the Model 3 may not be ready for a full unveiling until July, when “limited production” is slated to begin. Full-scale production, to the tune of 5,000 cars a week, will commence sometime in September. Tesla aims to deliver half a million vehicles by the end of next year, and achieve 1-million cars by 2020. These targets will be met by Tesla’s Gigafactory, and be propelled predominantly by the Model 3, which is pipped to start at around $46,000 (US$35,000).
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