Get All Access for $5/mo

First Tesla Model 3 Rolls Off Production Line Expect 30 more before the end of July and 20,000 per month by December.

By Matthew Humphries

This story originally appeared on PCMag

via PC Mag

The Tesla Model 3 was unveiled by Elon Musk in early 2016. We were then left waiting until March 2017 to see a "release candidate version" of the car in action. Four months on, and the first $35,000 Model 3 just rolled off the production line and straight into Elon Musk's garage.

With the first car now manufactured, the next goal is having 30 more available for a launch celebration on July 28. Production then increases to 100 during August, 1,500 during September and then 20,000 per month from December onwards if all goes to plan.

Production does need to scale quickly as Tesla is sitting on as many as 500,000 reservations, all of which were made with a $1,000 deposit.

According to Bloomberg, if Musk hits his production targets then Tesla will be the largest producer of battery-powered cars in 2018. Larger than all other car manufacturers combined such is the scale he has planned.

At $35,000, the Model 3 is much more affordable than the Model S, which will also make it much more popular. That's why Tesla decided recently to undertake a huge Supercharger expansion. There are currently 5,431 Superchargers spread across Tesla's global network. The aim is to have more than 10,000 before the end of 2017.

Matthew Humphries

Senior Editor

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Wells Fargo Reportedly Fired More Than a Dozen Employees for Faking Keyboard Activity

The bank told Bloomberg that it "does not tolerate unethical behavior."

Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.

Innovation

The Key to Real Innovation Is Cross-Pollination — Here Are 10 Ways to Implement It in Your Business

Transform your business with this unique approach to sparking innovation.

Business Models

5 Questions to Ask to Make Sure Your Company's Financial Plan Is on Track

Conducting a "check-up" at midyear is essential to maintain a healthy financial plan.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.