Source: TopNews

On Friday, the first thirty customers, who are mostly the employees of the company, received their cars, which starts at the affordable price of $35,000. The electric car making giant is hoping to bring mass market interest through the Model 3.

Best car for its cost, either electric or gasoline: Musk

According to the Chief Executive Officer of the automaker – Elon Musk – the Model 3 was the best car for its price, either electric or gasoline. The price of the car is still more than that of its competitors car makers, like hybrid Chevrolet Volt that starts at the cost of $34,095 and Nissan Leaf that starts at the cost of $30,680.

The Model X – the SUV Tesla EV – and Model S – the luxury sedan – had a starting price of $80,000, which did not allow them to attract the mid-stream buyers. The electric car making giant is aiming to produce 5,000 units of the Model 3 a week this year and over 10,000 cars a week by the coming years.

The consumers are now being told to expect late delivery of the affordable EV next year. More than half a million people have placed deposits already and if the automaker is successful is producing and selling so many cars in a year then it will outperform leading car making companies like Mercedes, Lexus and BMW in the US.

Tesla Model 3 electric battery can run for 220 miles

Mr. Musk drove on to an outdoor stage in a Model 3 at a delivery ceremony at the firm’s plant in Fremont, California. In September, the electric car maker will be unveiling electric lorry. He said, “For the future, the future being now, the cars will be increasingly autonomous.” Further, the CEO of SpaceX and chairman of SolarCity said that every Tesla model had the hardware required to drive itself.

The electric battery of the Model 3 will run for 354 km i.e. 220 miles before requiring a recharge, according to the U.S.-based car maker. The Model 3 is the most affordable car by the EV making giant and releasing this electric car is a significant step for the firm because the market value of Tesla Motors reached $49 billion in April. The launch of the Model 3 came only a week after the UK government declared an end to sales of new diesel and petrol cars by 2040.