Elon Musk: Tesla to start production of Model 3 this week

After passing all regulatory requirements for its production, the Tesla Model 3 will enter production by July 7^th, Friday, according to CEO Elon Musk. The first 30 customers will be getting their new Teslas during a handover party on July 28^th. Afterwards production of the most affordable Tesla to date will ramp up from 100 cars in August, to over 1,500 in September, and then to 20,000 per month by the end of the year. Tesla is also expected to dramatically increase production next year as it aims to produce 500,000 units annually. The Model 3 has over 400,000 pre-orders already so there are a lot of vehicles that need to be done. The clamor for it is understandable with the Model 3’s starting price at US$35,000 (around CA$45,000), which puts it a good $70,000 or so off the other Tesla models.

Source: The Verge

Elon Musk previews the Tesla Model 3 Release Candidate in Twitter video

First drive of a release candidate version of Model 3 pic.twitter.com/zcs6j1YRa4

— Elon Musk (@elonmusk) March 24, 2017

Tesla CEO Elon Musk posted a Twitter video of the first drive of the anticipated Tesla Model 3, which has 400,000 pre-orders and which is sold-out to mid-2018. The Model 3 Release Candidate is unlikely to change very much from the actual production version. Musk also hinted at a performance version of the Model 3, one with dual motors and all-wheel drive. Looks like the Model 3 is getting closer for those who pre ordered the more consumer friendly EV.

Tesla’s set to open its Gigafactory on July 29th

While Tesla’s Gigafactory has been partially operational for a few months already, you can say the company hasn’t officially open the door to this massive battery plant. However, come the end of July that will change. Reports from various publications, including Fortune and Tesla Central, have confirmed that on July 29 some Tesla owners together with company officials will be at the Nevada plant for the ceremony. There are no media invites yet but it seems certain VIPs, including those who “won” invites via the company’s Model S sales referral program, have already got their invites. This seems pretty much the same with how the company launched the Model 3 before with owners getting invites ahead of the media.

Speaking of the Model 3, the Gigafactory is said to play a key role in making mass production of the Model 3 more affordable. The plant is expected to produce 35 gigawatt-hours of battery capacity per year at its peak output in 2020. This, Tesla claims, is more than the entire planet’s production of lithium ion battery in 2013.

Source: The Verge

Panasonic promises to keep up with Tesla Model 3 demand

Panasonic is ready to put in the work and the money to make sure they meet the demand for batteries of the Tesla Model 3. Panasonic is pouring in US$1.6 billion into the Gigafactory needed to for the production of the batteries. The Japanese electronics company promises it will “do [its] best” to speed up investment so Tesla can meet its accelerated production goals. Right now, Tesla plans to make 500,000 cars per year by 2018 instead of 2020.

It doesn’t come as a surprise that Panasonic is willing to spend on this partnership as they also stand to profit from the flood of Model 3 sales. This move also shows a major shift in strategy for Panasonic as this’ll have them moving away from being dependent on the volatile consumer electronics market and into the relatively stable car industry. We can’t say yet if the Model 3 will fare well in the market but this gives Panasonic a way in to the industry.

Source: Engadget