Tesla may be in gearing up for the launch of its Model X SUV but this hasn't stopped CEO Elon Musk to give updates to their much-awaited affordable Model 3 EV.
In his usual medium of choice, Musk confirmed the Model 3's $35,000 price tag and March 2016 unveiling via Twitter last week.
@elonmusk $35k price, unveil in March, preorders start then.
— Elon Musk (@elonmusk) September 2, 2015
It may be seen next year but Musk also tweeted that the EV isn't slated for production until 2017. And for that to push through, he said a "fully operational Gigafactory [is] needed."
The Gigafactory is Tesla's own lithium-ion battery factory - set to be the largest of its kind - currently under construction outside Reno, Nev.
"The economy of scale offered by such a large factory is crucial in achieving the Model 3's $35,000 price point," GreenCarReports said.
Achieving this goal would mean the Tesla Model 3 EV would undercut the Model S 70 - currently the cheapest in the automaker's line-up - by exactly half the price, according to the website.
But what did Musk exactly mean when he said the facility should be "fully operational?"
As Autoblog pointed out, the Palo Alto, Calif.-based automaker said the Gigafactory won't be "fully operational" until 2020.
"That's the year Tesla has said the first such plant will be churning out 50 GWh of annual battery production, to be used in Tesla EVs and the company's Powerwall home energy storage systems."
Then again, Musk could simply mean that by 2017, the facility will be able to handle production of the first batch of the Model 3 EV.
Apart from pricing and next year's launch, the Tesla CEO hasn't revealed much about the Model. On his Reddit AMA though, Musk did tease that "it won't look like other cars."
Detractors might point out that Tesla isn't known for sticking to its own timelines but for Autoblog, Tesla is committed to starting Model 3 EV production in 2017 and "Musk's tweet reinforces that schedule."
