Elon Musk drops new details for Tesla’s Model 3 updates

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 In the midst of some fairly negative news stories, resulting from production delays and Musk’s lack of patience for an analyst’s questions during Q1 earnings call, Tesla shares are heading in the wrong direction. In an effort to inject some positive sentiment towards Tesla’s “low cost” option, Musk took to Twitter on Sunday, revealing the newest updates for the Model 3. Here’s what we know about the all-wheel drive performance Model 3:
  • The all-wheel drive (AWD) performance Model 3 will boast a top speed of 155 miles per hour
  • It can go from 0-60 in less than four seconds
  • It has a top range of 310 miles
  • It will cost $78,000

The announcement from Musk comes as a recent report revealed that the Model 3 could take a production leap despite its well publicized woes. Tesla has struggled to ramp up production of the Model 3, which should come as no surprise to anyone familiar with Musk’s previous track record of hitting production goals.

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According to the report, Tesla could hit a weekly production rate of 3,500 cars per week within the next 30-60 days. The company was trying to hit a production rate of 5,000 Model 3 vehicles (per week) by the end of Q2, but the timetable for that mark has been pushed back.

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Sam Cooper

Sam Cooper

Spent 10+ years in corporate finance before I realized how much more I enjoyed writing and advising people on how to achieve financial freedom. We all have different goals, what are yours?

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