The Tesla Model 3 ramp up is already making the buzz among car aficionados and environmental conservationists. Can the ambitious billionaire Elon Musk fulfill his promise to manufacture about half a million Tesla Model 3 cars by 2018?
First, consider the background of the Tesla story. Elon Musk, CEO of Tesla announced the upcoming launch of the Model 3, he was greeted with a lot of enthusiastic approval.
In fact, on that day, Musk received a total of 400,000 deposits at USD1,000 each. He ramped up the production plans, declaring that he can outsell two of the biggest luxury car makers, namely BMW and Mercedes, in a year's time.
In a year's time means Tesla is supposed to manufacture and deliver about 500,000 Model 3 units to waiting customers. Pre-order deliveries of the Tesla Model 3 are expected in July this year, and production is expected to heighten in September.
How will Tesla manage to deliver all the car units it intends to sell? Critics have said that the car maker is rewriting the rules of a car launch - by skipping the beta stage and going straight to production.
Another factor for faster production is a strip-down version of the Tesla Model 3. The dual-motor wheel drive and other high-performance features will be set back by six to nine months.
The Tesla Model 3 will not carry the usual speedometer. Also, Elon Musk mentioned that the Model 3 won't be a "next-generation" car. He referred to it as a "scaled down version of Model S."
Car enthusiasts in the know are already aware that the Model 3 would be a more affordable counterpart of Model S. Although it may be less in range and power one thing is for sure. This is not a slow car. Tesla says the Model 3 can drive 215 miles (346 kilometers) and can reach 60 miles per hour in less than six seconds.
Despite the encouraging projections, Tesla hasn't made a profit yet. However, analysts believe Tesla is a more valuable company than Ford Motors. As of February 28, Tesla's stock price went up from $249.99 to USD 270.22.
Tesla recently reported that it aims to make a stock offering to raise USD 1.15 billion. Analysts believe Tesla will seek to raise about USD 2.5 billion in stock offerings to fund its Model 3 production.
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