Tesla Model 3 Reveal Will Happen March 31
11 Février 2016 - Autoblog
Mark your calendars. Tesla will unveil the $35,000 Model 3 on March 31. While we have wondered out loud just what the nature of the reveal will be at the end of next month, a new letter announcing fourth quarter 2015 earnings results is pretty clear.
The Model 3, "is on schedule to be unveiled on March 31st and to start production and deliveries in late 2017." That sounds like a full-on reveal to us, but we shall see.
The letter goes on to give a few more hints about the upcoming 200-plus-mile (321 km) EV. For example, there's this part about how the Model 3 will be put into production:
We expect to generate positive net cash flow and achieve non-GAAP profitability for the full-year 2016. Thus our cash balance at the end of 2016 should increase from the year end 2015 level. We plan to fund about $1.5 billion in capital expenditures without accessing any outside capital other than our existing sources that support our leasing and finished goods inventory. We plan to invest in equipment to support cell production at the Gigafactory, begin installation of Model 3 vehicle production machinery, open about 80 retail locations and service centers, and energize about 300 new Supercharger locations.
The letter ends with this upbeat note:
Achieving these results in 2016 should leave us well positioned for 2017, when we plan to launch Model 3 and take another significant step towards our mission of accelerating the world's transition to sustainable transportation.