Outspoken Tesla CEO Elon Musk took to Twitter on Wednesday to drop a few nuggets of information about the highly anticipated Model 3 and the soon-to-be-released Model X.
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As far as the Model 3 goes, Musk relayed that Tesla’s electric car for the masses will be formally unveiled in March of 2016, whereupon the company will begin taking pre-orders. And if pre-orders for the Model S and Model X are any indication, it’s a safe bet that the Tesla Model 3 — sized at about 80% of the Model S — is poised to be a runaway hit. The only looming question is whether or not Tesla’s Model 3 design resonates with consumers.
Price-wise, Musk reiterated a price point he’s trotted out before, namely that the base price on the Model 3 will check in at $35,000. As far as a release date is concerned, Musk said that production will begin in two years time. Musk explained that Tesla first has to wait until the Gigafactory is fully operational before kicking off Model 3 production.
Model 3, our smaller and lower cost sedan will start production in about 2 years. Fully operational Gigafactory needed.
— Elon Musk (@elonmusk) September 2, 2015
Moving our attention to the Model X, Tesla’s upcoming SUV was on the receiving end of some criticism this week after word spread that the base model Signature Series edition of the Model X starts at $132,000. Via Twitter, Musk clarified that Model X pricing, generally speaking, will only cost about $5,000 more than a corresponding Model S.
“With same options, Model X is $5k more than an S due to greater size & body complexity,” Musk explained. “Sig Series is fully loaded, hence high price.”
Musk also relayed that Tesla will hand over its first run of Model X SUVs to consumers with early pre-orders on September 29.