Elon Musk: Tesla to accept orders on new Model 3 car – USA TODAY

Tesla Motors will certainly start accepting reservations about its mass-question electric automobile in March, although analysts point out anybody that pre-orders the automobile will certainly have actually to wait a minimum of 2 years to Get hold of it.

Tesla CEO Elon Musk said about Twitter very early Thursday that pre-orders of the Model 3 would certainly begin in stores March 31 and online April 1.

The firm has actually said the auto would certainly come to be readily available in late 2017, even though analysts from Barclays and Morgan Stanley point out mid- to late 2018 would certainly be Much more realistic.

The auto has actually lengthy been watched as the defining product for Tesla — a turning point that will certainly prove whether the firm can easily design, engineer, manufacture and sell a mass-market, comparably affordable electric vehicle.

Unlike the company’s Model S sedan and Model X crossover, luxury vehicles that can easily expenditure Much more compared to $100,000 once fully equipped, the Model 3 will certainly begin at regarding $35,000 prior to income tax rebates, Musk has actually said.

Though it would certainly be just one of the just vehicles of its sort about the market, the auto industry is buzzing after Total Motors recently confirmed that it would certainly beat Tesla to the question for a cost effective electric auto by a minimum of a year. GM said its Chevrolet Bolt, which will certainly begin at $30,000 after rebates and Get hold of 200 miles about a charge, will certainly begin production in late 2016.

Tesla is anticipated to preview the Model 3 in an event March 31, even though it’s not clear whether the firm will certainly show the entire vehicle.

Anyone that pre-orders need to position a $1,000 deposit, Musk said about Twitter.

The news comes after Tesla about Wednesday reported a wider fourth-quarter loss compared to analysts expected. yet after losing 38% of their value so much about the year — closing at $143.67 about Wednesday — Tesla shares  jumped in after-hrs trading as investors were heartened once Musk assured them that Model X production is about track. And they continued to rise Thursday, a day along with the wider question was broadly lower.

Follow USA TODAY reporter Nathan Bomey about Twitter @NathanBomey.

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