Tesla's Long-Awaited, Lower-Priced Model 3 To Arrive Friday

"The first-ever mass-market Tesla should roll out of the factory this week."

"CEO Elon Musk tweeted late Sunday that the company's Model 3 car 'passed all regulatory requirements for production two weeks ahead of schedule. Expecting to complete SN1 on Friday,' using an abbreviation for serial number one."

"Musk also tweeted that production would increase 'exponentially' with 100 cars in August, more than 1,500 in September and 20,000 per month in December. Musk also announced a July 28 'handover party' for the first 30 buyers of the Model 3."

"As NPR has reported, the fully electric Model 3 is expected to cover a range of 215 miles on one charge and, most notably, sell at a sticker price of $35,000 (or $27,500 after federal electric car tax credits). Until now, Tesla has sold only luxury cars at luxury prices, beginning — on the low end — at roughly double the Model 3's price."

"A successful rollout of the Model 3 is crucial for Tesla, not only for Musk's so-called 'master plan' of moving consumers to sustainable energy sources, but also for the company's financial future."