April 13, 2016
Last month Tesla Motors CEO Elon Musk unveiled the $35,000 Tesla Model 3, calling it "a mass-market, affordable car" that can also drive "at least 215 miles" without recharging. The response has been overwhelming. To date, more than 325,000 potential buyers have plunked down $1,000 to reserve a Model 3 of their own.
Despite production delays and reliability issues on both the Model S and Model X vehicles, the company is confident that production on the Model 3 will begin as planned in 2017. On a recent conference call for Tesla shareholders and the media, Musk noted that there had been “dramatic improvements in reliability."