On Monday, Inside EVs published a report showing a slide from a presentation (PDF) by Tesla CTO J.B. Straubel on June 15 at the 2015 EIA Conference in Washington, D.C. The slide states: "$35K 200 Mi-Range EV Planned For 2018" (see image at botom). That, of course, is referring to the mass-market Model 3 that has a planned price of $35,ooo. Tesla has been saying that production will begin in 2017.
According to Tesla, nothing has changed. "Model 3 remains on schedule. As we’ve stated, we plan to show Model 3 in 2016 and begin production in 2017. Straubel’s slide is a high-level look into when Model 3 will be in full production," a Tesla spokesperson said in an email. (See: Tesla Model 3 Comes Into Focus: Models, Motors, Manufacturing)
The Model 3 will be Tesla's first high-volume, mass-market vehicle. With an estimated range of 200 miles, its target price of $35,000 before incentives is about half of the price of the current entry-level Model S. The Model 3 lineup will include both a sedan and a crossover, according to a recent report. It is also expected to have single- and dual-motor options, according to recent comments from CEO Elon Musk. The dual-motor is used on Tesla's All-Wheel-Drive vehicles.
With the Model 3, Musk is ultimately targeting production of 500,000 Tesla vehicles per year. Model S annual production in 2014 was 35,000 units. Earlier this month, Tesla leased the 500,000-square-foot building where Solyndra once made solar cells in Fremont, Calif., which a Tesla spokeswoman said "gives us the space to expand our manufacturing." This is in addition to the battery Gigafactory being constructed in Nevada. Musk has said in the past that the one of the primary motivating forces behind the construction of the Gigafactory is the high-volume-production Model 3.
This news comes as Tesla begins to roll out the Model X, its first crossover, in approximately three to four months.
