First Tesla Model 3 to Be Completed Friday

Tesla is gearing up to begin production of its lower-priced Model 3 electric vehicle this month. And the company is ahead of schedule, with the first Model 3 slated for completion this Friday.

CEO Elon Musk took to Twitter to share the news. “Model 3 passed all regulatory requirements for production two weeks ahead of schedule,” Musk tweeted. “Expected to complete SN1 on Friday” — SN1 presumably meaning “serial number 1.” In addition, Musk added in a separate tweet that the company is planning a “handover party” for the first 30 Model 3 customers on July 28.

Tesla has historically had problems making good on its usually ambitious timelines, but the Model 3’s production schedule seems to be an exception. And even after July’s milestone, Tesla is planning on ramping up production exponentially, with plans for 100 cars produced in August, more than 1,500 in September, and over 20,000 per month by December, Musk added.

The Model 3 will likely be a key part of Musk’s overall sustainability ambitions, as they represent a relatively affordable way for consumers to begin switching over to electric vehicles. In fact, Tesla’s end goal, per Musk’s master plan, was never to be a luxury automobile manufacturer — rather, it’s always planned on leveraging its more expensive vehicles to make more budget-friendly options possible. Tesla’s Model 3 is already seeing high preorder demand and is largely expected to sell at higher volumes than the company’s higher-priced cars.

The Model 3 will retail for $35,000 before any tax incentives, will boast an average range of 215 miles per charge and will come equipped with Tesla’s Autopilot hardware and firmware. Tesla began taking reservations for the car in March, but customers who pre-order Model 3s now likely won’t see their vehicle until late 2018 — though Tesla has plans to mitigate any supply issues with streamlined production.