Tesla is all set to unveil its mass market electric vehicle Model 3 in March. But we are not going to see the car in its glory anytime soon. Tesla chief executive Elon Musk said over the weekend in Paris that the car would be unveiled by March end, but “we are not going to show everything about the Model 3 until a lot closer to production time.” The new electric vehicle will enjoy a staggered debut like the Model X, with first pictures being released well before technical specifications are given.
Full details to be revealed ahead of production
That means we are most likely to see only a pre-production Model 3 in March, and full details by the end of the year ahead of its 2017 production timeline. It should not surprise Tesla enthusiasts who know that the company parcels out details in small and exciting tidbits to keep the social media buzzing. It also allows the Silicon Valley company not to tell rivals everything too soon so they can respond.
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Musk said Model 3 production will likely begin at the end of 2017. Last week, he said Tesla was considering setting up production facilities in China and Europe “in about three years” to meet the local demand. The EV maker strives to improve on its under-development vehicles to make them as compelling as possible before they go on sale. The company has confirmed that Model 3 will be its first car to use batteries produced by its Gigafactory.
Tesla bull expresses concerns over Model 3
The Model 3 will be priced at around $35,000 for the base model. Recently, rumors surfaced that Tesla was considering unveiling two vehicles in March, one of them being Model Y. But the company has rubbished those reports, saying only Model 3 will be unveiled at the next month’s event. The Model 3 is expected to have a range of over 200 miles. It can be charged up at Supercharger stations that provide 170 miles’ worth of power in about 30 minutes.
Earlier this week, Morgan Stanley analyst Adam Jonas slashed his price target on Tesla from $450 to $333. Though the price target is still above Tesla’s peak of $291 per share, Jonas believes the company will not be able to meet its Model 3 launch schedule of 2017. Jonas told investors that the Model 3 would arrive at a time when gas prices are at record low, which may hurt the sales of electric vehicles.