Tesla Motors faces important test with Model 3
Tesla Motors’ long-awaited Model 3 will be a “major test” for the Palo Alto-based electric car giant, according to industry analysts. On Friday, the Elon Musk-led e-car maker will deliver the $35,000 Model 3, which will be geared toward the middle-class. The company has thus far introduced three models, and not every model went well.
Bill Selesky, a senior analyst with Argus Research, said, “It’s a huge test. This is the vehicle that’s really going to define them with the mass audience, and they’ve really got to be very careful that what they put out there is what they said it was going to be.”
Heavy price tags of Tesla cars have thus far frustrated many. Many people have not been able to swing the price of Model S or Model X e-cars, as the cheapest version of the Model S cost a whopping $69,500.
However, the $35,000 Model 3 could change that. Tesla has a plan to expand past its status as a boutique carmaker, with the manufacturer planning to produce one million cars annually by 2020.
However, it should be noted that Tesla has failed to live up to its promise of delivering vehicles as per schedule. The demand for Tesla cars remains high but the company has to catch up on manufacturing side to deal with high demand.
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