The Tesla Model 3 will be unveiled on March 31

Tesla Model 3 Event

The Tesla Model 3 will be unveiled at a small press event on March 31, but the electric car maker is already releasing a few details about the latest car. The details were released in invitations sent to current Tesla owners and the media.

The most important detail released Wednesday is that there will be a working Model 3 on site. Bloomberg News notes that CEO Elon Musk previously indicated that he might not show the whole car during the March 31 unveiling.

The car isn’t supposed to go on sale until 2017, but a driveable car at the event could indicate Tesla is further along in production than some investors believed.

The Tesla Model 3 is the company’s most important car yet. It is intended to bring the success of the Model S in luxury markets to a broader audience. The fully electric vehicle will cost consumers $35,000 before tax breaks, making it much more affordable than the Model S or Model X. PC World notes that both of those cars sell for upwards of $100,000.

Model 3 production can’t go forward until Tesla’s Gigafactory is complete. The massive facility which is under construction in Nevada is designed to meet Tesla’s battery needs. The factory will reach peak manufacturing capacity in 2020.

Previous Tesla models have missed their production deadlines, but the company has said that it learned from past mistakes. It is focused on getting an affordable electric vehicle on the road a soon as possible. Given the knowledge that there will be a working prototype at the press event, it’s likely Tesla will meet its deadline this time.

The Tesla Model 3 unveiling will take place at the Tesla Design Studio in Hawthorne, California. Less than 800 people will attend, including 650 spaces saved for current Tesla owners and their guests. In the invitation, Tesla noted that the gesture is “a token of our appreciation” for the support of current owners. Spots for the event will be allocated in a lottery on March 16 to current Tesla owners who entered the drawing online.


Written by John Howard

John Howard

John Howard is the Business Editor at He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business.