Since we don't have an official estimate yet on auto delivery dates from Tesla, you can look at an online Model 3 estimator in the meantime to get the best unofficial "guesstimate". The vehicle has a range of 220 miles to 310 miles and has been created to "have the highest safety ratings in every category", the company said.
Prices start at $35,000 (£26,650), which the firm hopes will bring mass market interest.
"Welcome to production hell", Musk quipped to the enthusiastic crowd of workers at the event.
"Welcome to production hell - that's where we're going to be for six months, maybe longer", he stated. Plenty of other automakers make electric cars, but no other automaker has brought more attention to electric cars than Tesla. After a successful and unprecedented pre-sale, which racked up billions of dollars worth of pre-orders, Tesla has scrambled to prepare for unexpected demand.
Elon Musk was said to be nervous as he introduced the Model 3. This is 2-4 times cheaper than the first two models of the Tesla Model S and the crossover Model X.
Tesla referred to the arrival of the Model 3 as a "crucial step" in the company's mission to speed the transition to renewable energy.
The Model 3's top speed increases from 130mph to 140mph when the long-range battery is fitted, and this option sees its home charging rate rise to 37 miles per hour, too.
The Model 3 has always been part of Palo Alto, Calif. -based Tesla's plans. Musk did not disclose the size of the battery packs, just their range, performance and respective pricing.
After months and months of anticipation, Elon Musk has finally answered nearly all of our questions about the Model 3. "The money that we make with the S and the X all goes into building the Model 3". The longer-range version is available now for the thousands of Tesla employees who placed reservations previous year. It's not an easy task but Musk appears confident that the company will be able to reach the initial goal of producing 5,000 cars a week by the end of the year. One of the best Model 3 estimators online is Troy's Model 3 Estimator, created by Redditor Teslike (TeslaMotorsClub member Troy.) You can access the estimator, which is a Google Doc, here.
The first 30 customers - a lot of them employees of the company - received their cars on Friday.
Musk describes the Model 3 production ramp as an S curve: slow growth in the beginning, followed by a rapid rise and a plateau.
That's what came to my mind when first learning of Tesla's color options for the Model 3 earlier today.
At the end of the presentation Musk stated that new orders now would likely receive their cars at the end of 2018, indicating that that scale is certainly within their plan.
Abuelsamid said even if it doesn't meet its ambitious targets, Tesla has done more than anyone to promote electric vehicles. It's a steep increase in production - making 500,000 vehicles in a year, as Tesla has vowed to do, would mean increasing its 2016 production nearly sixfold, according to Reuters.
"This is one of Tesla's challenges - they've always launched in a white space before", said Michelle Krebs, executive analyst with Autotrader.