Tesla delivered its first Model 3 vehicles on Friday in what is likely to be a milestone for electric cars and possibly for the entire auto industry. The first 30 Model 3 sedans - mass-market versions of Tesla's pricey electric cars - were to roll out of a California plant for delivery, mainly to Tesla employees. Production of the electric car aimed at the broader market - with a starting price of $35,000 (about R453,000)- will ramp up quickly, according to Tesla founder and boss Elon Musk, with 100 in August and 1500 or more in September. Tesla aims to produce 5,000 units of the Model 3 a week this year and 10,000 units a week in 2018. More than 375,000 customers have placed deposits to get on the waiting list for the Model 3, and anyone wanting one will have to wait at least until 2018. Some analysts say that with the launch Tesla may be reshaping the future of the auto industry. Gene Munster, an analyst with the research firm, Loup Ventures, argues that Tesla may do for the auto ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.