Tesla has gotten the green light for the Model 3, its first mass-market car.
Tesla CEO Elon Musk said on Monday that the Model 3 has passed all regulatory requirements two weeks ahead of schedule.
There will be handover party for the very first 30 Model 3 customers on July 28. Tesla will then ramp up production to 1,500 cars in September and, ultimately, 20,000 cars per month in December.
Tesla first unveiled the car last March and secure roughly 400,000 customers pre-orders for the vehicle.
We broke down everything you need to know about the Model 3 — here's a closer look:
It's unclear whether customers who buy the Tesla Model 3 will be eligible for the full $7,500 federal tax incentive — that credit applies only to the first 200,000 cars a manufacturer sells domestically.
Tesla globally sold about 80,000 vehicles in 2016 and about 50,000 vehicles in 2015. Factoring cars sold since 2008, Tesla will be cutting it close to 200,000 vehicles by the time deliveries begin at the end of the year.
But the credit doesn't disappear the second an automaker hits 200,000 vehicles. Instead, the credit would first fall by 50%, CNN reported.
On its website, Tesla doesn't make any guarantees about the federal tax incentive.
"We are committed to providing you with the most current information about incentives at the time of purchase. We'll do the same when it's time for confirming your Model 3 order," the website says.
Tesla's new Autopilot system will also cost at least $5,000, but more on that later.Read More...
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