Tesla Model 3 Release Date News Update: Elon Musk Talks Logo, Production; More Details to Come at Q4 Earnings Update
Tesla Motors CEO Elon Musk revealed a few details about the highly anticipated Tesla Model 3 in a recent conversation with fans on Twitter.
For starters, he confirmed that the logo of the upcoming all-electric Tesla sedan will be a numeric 3 instead of the three horizontal bars.
A research by Electrek reveals that many fans are not happy about the change in the logo. Majority of the people polled by the site prefer the three horizontal bars for the Tesla Model 3 as opposed to the numeric one. Either way, it looks like Tesla has already made up its mind about the logo.
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Musk also emphasized that the Tesla Model 3 is "the overwhelming priority" of the company at the moment. After all, it is expected to arrive this year.
During its third-quarter earnings update, Tesla said that Tesla Model 3 is planned for deliveries in the second half of 2017. The company also revealed there that they have already completed the production line layouts for the highly anticipated vehicle.
Now, they are looking to begin installing a new body welding and final assembly lines. Tesla targets to do cell production by second quarter of the year.
"As refinement of the Model 3 continues, we remain on plan for our timing, volume, vehicle capability, pricing, and margin targets," Tesla said that time as per The Motley Fool.
There is a lot riding on the success of the Tesla Model 3, which is expected to help the company build a total of 500,000 total vehicles in 2018. This is five times than its current annual run-rate of 100,000, which means that the production of Tesla Model 3 is expected to churn out 400,000 units.
With an expected average price of $43,000, the Tesla Model 3 is believed to generate $17 billion with that production level. Musk, however, hopes it can shoot up to $20 billion.
More information about the Tesla Model 3 should be revealed at the fourth-quarter earnings update of Tesla on Wednesday, Feb. 22.
