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Musk: Tesla Model 3 Commercial Launch Ahead Of Schedule

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Musk: Tesla Model 3 Commercial Launch Ahead Of Schedule
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The wait is almost over.

For Tesla Inc (NASDAQ: TSLA) fans, good tidings came in the form of a series of tweets from CEO Elon Musk. The highly-anticipated mass market Model 3 vehicles could be ready to roll off the factory assembly line.

Early Monday morning, Musk indicated in a tweet that the first Model 3 vehicle, he referred to as SN1 or Serial Number 1, is expected to be completed this Friday after clearing all regulatory requirement. This would mean the rollout is about two weeks ahead of schedule.

Musk followed up with another tweet that suggested that the first 30 Model 3 customers could take possession of the vehicle by July 28. With production growing exponentially, Musk sees production in August to be at 100 cars, increasing to above 1,500 by September. By December, Model 3 production is expected to ramp up by 20,000.

Affordability, The Differentiator

The Model 3 vehicle was unveiled on March 31, 2016, with the price starting at $35,000. It's an affordable electric vehicle, which can seat five adults. The two other models of Tesla, namely Model S and Model X, are priced at $69,200 and $94,700, respectively.

The Model 3, as has been with the case of other Tesla models has full self-driving capability, an aluminum and steel body, coil suspension, optional glass roof and 18" or 19" wheels.

High-Flying Stock

Meanwhile, Tesla stock has been on a tear lately, primarily on the optimism that has exuded ahead of the Model 3 commercial launch. After breaking the psychological barrier of $300 in early April, the stock has gotten even stronger, having hit a fresh all-time closing high of $383.45 on June 23.

TSLA Chart

TSLA Source: Y Charts

Now Tesla commands a better market capitalization than most of the traditional automakers. Will Tesla show fundamental and operational strength to keep the momentum going?

Related News:

Tesla Factory Check: Model 3 Activity Picking Up

UnderstandingTesla's Need For Fresh Funding As Model 3 Launch Approaches

Image: By Steve Jurvetson [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

Posted-In: Elon Musk Model 3 Tesla Model 3News Events Trading Ideas Best of Benzinga

 

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