by Sara Lacey

Elon Musk tweeted in the early hours of Monday July 3 that “Model 3 passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 by Friday.” That means, this Friday. Friday the 7th of July, 2017. This tweet is notable because all of Tesla’s previous models (Roadster, Model X and Model S) were late by multiple months in their releases.

He further teased the arrival of the vehicle by saying, “Handover party for the first 30 customer Model 3’s on the 28th! Production grows exponentially so August should be 100 cars and Sept above 1500.” To reiterate, no other Tesla release has happened on time, so the media and the market are skeptical.

But what is Model 3? Model 3 is Tesla’s more budget-friendly sedan. It’s priced starting at $35,000, but consumers can also take advantage of local and federal tax incentives that will lower that price. Buyers can expect 215 miles of range out of each charge, 5-person seating, and autopilot hardware. It has not yet received any safety ratings, though Tesla anticipates Model 3 passing with flying colors. “Model 3 is designed to attain the highest safety ratings in every category,” the company says.

Unlike the Roadster, Model S, and Model X, Model 3 is going to be a production vehicle, and Tesla hopes to build more than 40,000 per month in 2018, according to NPR. Just like other Tesla vehicles, this lower-cost model has a wait list. Order now and you can get delivery on your Model 3 by mid-2018. Or later.

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