Tesla’s highly-anticipated Model 3 electric car will officially hit the market this Friday, according to an early-morning tweet by CEO Elon Musk. Estimated to sell for approximately $27,500 with a federal tax credit, the five-seater will be able to travel 215 miles on a single charge and it’s capable of accelerating from 0-60 mph in 5.6 seconds.
According to Musk, production for the Model 3 was supposed to start in July, but the company has faced numerous delays. The Palo Alto, California-based company is seeking to churn out 5,000 Model 3 sedans each week by the end of 2017, and 10,000 per week in 2018. As Phys.org reports, the speed at which Tesla can meet its production goals is questionable because last year, the company only produced 84,000 cars. In comparison, competitors such as General Motors, Volkswagen, and Toyota sell 10 million vehicles per year.
An additional concern is how Tesla will meet all the servicing needs for all Model 3 vehicles, as Model S and Model X owners will have to share the company-owned charging stations with an influx of new cars. One way Tesla intends to assist consumers who are far away from charging stations is to deploy a fleet of mobile service trucks who are on-hand and ready to help. The company also seeks to double its high-speed charging points to 10,000 by the end of 2017.
Tesla’s Model 3 will face stiff competition, however – the Chevrolet Bolt costs $36,000 and can travel 238 miles per charge, and the next-gen Nissan Leaf is expected to have autonomous driving technology and a range close to 300 miles.