Tesla's new Model 3 is the first, mass market electric vehicle from Tesla, which until now has been only providing high end, luxury vehicles to the market. The company's previous cars have missed their production deadlines, but Tesla has said it has learned from past mistakes and is focused on getting an affordable Model 3 on the road as soon as possible.
Existing Tesla owners have reportedly received an e-mail regarding the March 31 launch event. Given the year 2017 is already going to see some highly anticipated new plug-in vehicles from more resourceful mainstream automakers, Tesla it seems can’t afford rollout delays that plagued initial delivery targets for both the Model S and the Model X.
Tesla stock is expected to react positively following the Model 3 event. This platform will also be used for a crossover-like model and possibly a new Roadster.
The Model 3 will be the first model based on Tesla's third-generation platform.
It's unclear whether the Model 3 will be eligible for the $7,500 federal tax credit when it enters production.
No, instead, it's an invitation to participate in a lottery that could get you one of the 650 vacant seats at the Model 3 unveiling on March 31.
Past its $35,000 price tag and hints from CEO Elon Musk, not much is known about the specific design of the mass-market, all-electric vehicle. Therefore, Tesla's mass-market Model 3 is considered to be a make or break vehicle for Tesla which will lock horns with electric cars of the future.
Earlier today, Tesla Motors sent out the official invitations to all current Tesla owners, but they're not asking them to take part in the event.