Tesla confirms reveal date for entry-level model

The Tesla Model 3 – the long awaited ‘cheaper’ Tesla is to be revealed on March 31, Tesla told shareholders yesterday.

The long-promised car, which is predicted to have a US$35000 price tag, before tax incentives, was noted in an earnings release, with the proposed reveal date and an on-sale date of late 2017.

Tesla announced plans to open 80 more retail outlets and roll out another 300 Superchargers.

Tesla built more cars in Q4 than it ever had before, with 14,037 EVs rolling out, and it’s expecting to reach 1,000 Model Xs built every week during Q2.

This all comes at a cost, with a loss in Q4 last year of $320 million.