Elon Musk takes the stage to deliver the first Tesla Model 3

Tesla’s chief, Elon Musk, handed the first of what he hopes to be a mass electric car for employee buyers, paving the way for the company’s biggest test of projects to revolutionize the automotive industry. .

Outside of the Tesla plant in Fremont, California on Friday night, Musk showed the $ 35,000 model 3 which has a range of 350 km (350 miles) on a load that deviates from luxury electric cars Of the Company.

Tesla Model 3

Hours before the event, Musk acknowledged that it would be quite difficult to build the car early in production.

“We’re going to spend at least six months manufacturing the hell,” Musk told reporters.

More than half a million bookings are up from about 373,000 disclosed in April 2016. Customers pay refundable deposits of $ 1,000 for the car, which is eligible for tax credits. All new buyers would probably not receive their car by the end of 2018, Musk said.

A longer-range version of the car costs $ 44,000 and will drive 310 miles (500 km) on a single charge. The cars have a simplified instrument panel without buttons or buttons, with a touch screen to the right of the driver.

Tesla faces major hurdles that face the hype of Model 3. The 500,000 vehicles Tesla promised to produce next year are nearly six times the 2016 output.

If Tesla were to produce, and sell 500,000 cars a year, the company would likely outperform the BMW, Mercedes or Lexus brands in the United States.

Production delays and quality problems hampered the launch of Tesla’s Model S and Model X vehicles and the company blamed production problems for a shortfall in the second quarter of this year. Musk stated that a simpler design of Tesla Model 3 would greatly reduce potential assembly line problems.

Tesla has burned more than $ 2 billion in cash so far this year before launch. A moderate launch of Model 3 could increase business risks, while regular delivery of Model 3 could generate a cash flow that would allow Tesla to avoid returning to capital markets to fund its operations.

Tesla’s stock price has increased 54% since January in anticipation of the launch of Model 3, and Tesla’s costly evaluation now outperforms traditional competitors such as General Motors and Ford.

So far, Tesla has operated as a niche producer of luxury electric vehicles, with a charismatic manager and spectator who interacts regularly with fans on his Twitter account. Now Tesla is trying to move into a different league by building high volume vehicles for customers who can only pay a few thousand dollars more than the average price of a conventional car or truck sold in the US, United.

Tesla Model 3 is part of Musk’s broader plan to build a clean energy and transportation company that offers electric semi-trucks, solar roof systems and large-scale battery storage systems.

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