Home Technology Tesla Model 3 ‘Handover Party’ Begins July 28: Musk

Tesla Model 3 ‘Handover Party’ Begins July 28: Musk

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

Tesla has officially stated that Model 3 production will start this week. Further, in a series of tweets on Sunday night, CEO Elon Musk stated that on July 28, Tesla will hand over the Model 3 to 30 customers.

“Handover party for first 30 customer Model 3’s on the 28th,” Musk tweeted.

Model 3 production

Musk sticks to Model 3 production schedule

Musk informed fans that the company got all Model 3 production-related regulatory requirements two weeks “ahead of schedule. Expecting to complete SN1 on Friday.” Musk further stated that in August, a total of 150 cars will be produced, and in September, about 1,500 vehicles will be manufactured. Musk also promised that by the end of this year, a total of 5,000 Model 3s will roll out every week.

“Looks like we can reach 20,000 Model 3 cars per month in Dec,” the CEO said.

Tesla has been working hard to stick to the Model 3 schedule. The company shut down production at its California assembly plant for a week in February to prepare for the production of Model 3 and hit its July production target, reported Reuters. The company basically did everything it could to ensure it does not face the same production issues it did with the Model X and Model S. These delays were the biggest reason analysts were skeptical about whether Tesla would be able to achieve its targets this time.

However, when unveiling the Model 3 for the first time at an event last year in Hawthorne, California, Musk stated that by all means, deliveries would start by the end of 2017.

“You will not be able to buy a better car for $35,000, even with no options,” he said at the time.

During a shareholder meeting last month, Musk stated that unlike their luxury models, the Model 3 would not have as many customization options, apart from color and wheels. Musk accepted that several customization options that went into the Model X made it too complex.

Tesla Model 3 is full on features

The Tesla Model 3 has already been hogging the limelight over the Internet. The striking similarity between the Model S and Model 3 when viewed at a right angle has caught the attention of many. However, the final Model 3 might look slightly different from its pre-production models, as has been the case with other Tesla cars.

Tesla has big expectations for the Model 3, its first mass-market car with a range of 215 miles. Prior to this, the company has only produced luxury electric cars. Tesla will supposedly keep the Model 3 base price at around $35,000. However, after receiving a tax credit of about $7,500, the price will drop to about $27,500. Despite being mass-market, the car is fast and accelerates from zero to 60 miles within six seconds.

Safety has always been a priority for Tesla, and the same is true for the Model 3 as well. According to Musk, the car will have an all-around five-star safety rating. Further, the mass-market car will be equipped with Autopilot. Autopilot will have eight cameras, of which three will be front-facing. In addition, the car will be equipped with 12 ultrasonic sensors.

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

Aman Jain
Personal Finance Writer

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.