The Model 3 is the culmination of Tesla founder Elon Musk's grand plan, which always envisaged luxury, high price low volume models would help the company built momentum and resources before the launch of a mass market vehicle - and that auto is the Model 3.
At a launch event organised at Tesla's factory in Fremont, California, 30 lucky Tesla employees got to collect the first Model 3 vehicles. Notably, these people are most likely all Tesla employees, who are prioritized on the long list of names waiting for the auto.
The standard model has a range of 220 miles, a top speed of 130 mph and an acceleration from 0-60 mph of 5.6 seconds. It's more expensive, though, at $44,000.
"There's nothing in the Model 3 that doesn't need to be there", Musk said, thinking back to the production difficulties Tesla had with the extremely complicated Model X.
"We are going to be in production hell". This wasn't another vehicle that would be unattainable to the masses like the Model S or Model X, but would instead be priced starting at a fairly reasonable $35,000.
If you didn't pre-order until now, expect your delivery to be well into 2018 as Tesla will spend the second half of this year ramping up production. We had an update on manufacturing, with an emphasis on delivering a product on time.
Loveday herself said she didn't have a favorite commercial - "I can't choose", she said Friday - but fans were able to vote on the top 10 finalists.
Created to be smaller, simpler and easier to assemble than its bigger sibling, the Model 3 is also priced to compete in the heart of the auto market. Elon Musk is set to take stage at 9pm Pacific to deliver the final chapter in his original Tesla Master Plan - Use that (Model S, X) money to create an affordable, high volume auto.
"Everything we do has to be attractive, but it has to be functional", he said at a press conference before a handover ceremony at Tesla's Fremont factory on Friday, when the company delivered the first 30 Model 3s, mainly to Tesla employees. He then showed a short video clip comparing the Volvo S60, considered one of the safest cars in the world, to the Model 3 in a crash test. It also marked the start of what Musk called "production hell ... for at least six months, maybe longer". He also notes that when the Gigafactory is done, it'll produce more lithium-ion batteries than the rest of the world combined. Firstly this is plenty for day-to-day running, but for that weekend road trip, Telsa's investment in their own Supercharger and destination charger network, will allow you travel pretty much anywhere you want along the east coast of Australia.
At those prices, the Model 3 will face off against a fierce competitive set of entry-level luxury sedans from the likes of Audi, BMW, Lexus and Mercedes.
As far as anything more specific, we can guess based on previous information that Tesla has shared.