Tesla's Model 3 and new solar roof are on track to arrive this year (TSLA)

http://ift.tt/2lMFk1p

Tesla's Model 3 and new solar roof are on track to arrive this year (TSLA)

http://ift.tt/2mdAOq9

AP Photo/Justin Pritchard

Tesla's most anticipated car may actually arrive on time. 

Tesla is on track to begin production of the Model 3 in July and will begin delivery of its Model 3 in the second half of this year, the company said in an investor letter on Wednesday. 

The Model 3, of course, is Tesla's first mass-market car, pricing at $35,000 before tax incentives. 

Tesla confirmed that it began building Model 3 prototypes earlier this month and said in the letter it will "steadily ramp production to exceed 5,000 vehicles per week at some point in the fourth quarter and 10,000 vehicles per week at some point in 2018." 

Tesla is notorious for missing deadlines when it comes to delivering its vehicles. 

The Model S was originally slated to go into production in 2010, but was pushed back to mid-2011. The company also pushed back the launch of the Model X by about two years. 

Besides the Model 3, Tesla also said that it is on schedule to begin production and installation of its new solar roof during the second half of this year. 

CEO Elon Musk first announced Tesla's solar roof during a company event in October. At the time, Musk said that the company plans to offer four types of shingles to match the aesthetic of a person's home.

Production for the shingles is expected to begin mid-2017, at which time consumers will also be able to place orders for a solar roof.

NOW WATCH: Watch a Tesla predict an accident and react before it even happens

See Also:

• Tesla left out a critical piece of information in its 2017 guidance
• There's one Tesla product that I'll definitely buy as soon as possible — and it's not the Model 3
• Expect Tesla earnings to be downright weird

SEE ALSO: Tesla is considering building up to 5 Gigafactories

Business

via Business Insider http://ift.tt/eKERsB

February 22, 2017 at 08:15AM