A parking lot of Tesla Model 3 electric vehicles is seen in Richmond, Calif., on June 22, 2018.Stephen Lam/Reuters
Tesla Inc Chief Executive Officer Elon Musk said on Monday production of the $35,000 version of the electric carmaker’s Model 3 will start this month, but would not reach volume production until mid-year.
“Gap in understanding is that $35k Model 3 production *starts* this month, but will not reach volume production until mid year. Extremely difficult to predict middle part of manufacturing S-curve,” Musk replied to a tweet.
Tesla offered for the first time a $35,000 version of its Model 3 last week and said its global sales would now be online-only, steps designed to increase demand and cut overhead costs for the company.