On March 31, 2016, Tesla Motors CEO Elon Musk held a launch event to introduce the Model 3. The Model 3 is staged to become the company's highest seller in terms of volume due to its focus on middle-class consumers and its affordable price tag. After the announcement of the launch event, 115,000 people have deposited $1000 to make a reservation for a car they have never laid eyes on and have limited details on the specifications. Individuals place value on sustainability and believe in Elon Musk.
What do we know:
The Model 3 is rated for a minimum of 215 miles per charge and can accelerate to 60 mph in under 6 seconds. The driving performance and range are far superior to competing brands that lack the image and luxury feel of Tesla. One of the major concerns consumers have regarding electric cars is the lack of charging outlets. The Model 3 will begin production in 2017 and according to Musk, a man we tend to believe, there will be 7,200 superchargers as well as 15,000 charging destinations by this time. He also stated that the number of Tesla locations for buying and servicing cars will more than double to 441 locations. We can only assume that charging will be an option at these locations as well.
The previous models from Tesla Motors have been targeted towards the wealthy and early adopters and haven’t been something for the mainstream. However, Musk is a highly skilled engineer, inventor, and investor. He is the founder of SpaceX, co-founder of Tesla Motors, co-chairman of OpenAI, chairman of SolarCity, co-founder of PayPal, and co-founder of Zip2. With a track record of success like his, combined with his unique views on sustainability and the future, we are believers that the Model 3 will reach the masses. Keep in mind that Musk is the pioneer of private space exploration. His cars will more than likely exceed quality expectations.