Tesla Model 3

The Tesla Model 3 is an all-electric four door compact sedan designed and manufactured by Tesla Motors. It was unveiled on March 31, 2016, with initial production and deliveries planned for the end of 2017. Tesla anticipates the Model 3 will deliver an all-electric range of at least 215 miles (346 km), with pricing in the U.S. market starting at US$35,000 before any applicablegovernment incentives.

Within a week of the unveiling, company officials said they had taken 325,000 Model 3 reservations, more than triple the number of Model S cars Tesla had sold by the end of 2015. These reservations represent potential sales of overUS$14 billion. As of May 15, 2016, Tesla had taken about 373,000 reservations.

Overview
Company officials said the all-electric car will have a range of at least 215 miles (346 km), will be able to seat five people comfortably, include both front and rear trunks, and will be able to accelerate from 0 to 60 miles per hour (0 to 100 km/h) in less than six seconds. The Model 3 is expected to have a drag coefficient of C d =0.21. This will be lower than the Tesla Model S drag coefficient of C d =0.24, which is the lowest among current production cars. Musk said that the rear-wheel-drive base model would have great traction on ice because of the fast torque response of the electric motor.

During the unveiling ceremony, Tesla announced a price starting at US$35,000before any applicable government incentives. However, with options, Tesla CEO Elon Musk predicted that the average sales price will be closer to US$42,000. First deliveries are expected in the US by late 2017, with full production in 2018. As a result of the high demand for Model 3, in May 2016 Tesla Motors announced its decision to advance its 500,000 total unit build plan (combined for Model S, Model X, and Model 3) to 2018, two years earlier than previously planned, in order to accelerate its target for Model 3 output. Tesla requested US$2 billion from the stock market to finance the plan.

History
The Model 3 (stylized as "☰") was codenamed Tesla BlueStar in the original business plan in 2007. The name Model 3 was announced on Musk's Twitter account on July 16, 2014, however the intended name was Model E that was abandoned due to Ford's trademark on the name; Musk wanted the three current models to spell SEX, but settled with "S3X".

Design
In 2013, design chief Franz von Holzhausen stated that the Model 3 will "be an Audi A4, BMW 3-series, Mercedes-Benz C-Class type of vehicle that will offer everything: range, affordability, and performance with a starting price ofUS$30,000" that is targeted toward the mass-market. While technology from Tesla's Model S will be incorporated into the Model 3,it will be 20% smaller than the Model S and have its own unique design. Since electric cars have different cooling needs than combustion cars, the Model 3 does not have a front grille. Musk said the final design of the Model 3 would be released on June 30. After the final design of the first Model 3, any further features would be included in future versions of the 3.

Market
In September 2015, Tesla announced that the Model 3 would be unveiled in March 2016. In January 2016, Musk stated that the first official pictures of the car will be revealed at the end of March 2016. Delivery would begin in late 2017 first on the US West Coast and then move eastwards. Potential customers were first able to reserve their spot in the queue at Tesla stores or online on March 31 with a refundable deposit of US$1,000. In February 2016, Tesla indicated that the unveiling would be on March 31, 2016.

On the morning of March 31, 2016, tens of thousands of people were reported waiting in lines to place the refundable deposit to reserve a Model 3 for 2017 delivery, even though they had not yet seen the car unveiled. During the Model 3 unveil event, it was revealed that over 115,000 people had reserved the Model 3 in less than 24 hours prior to the unveiling event. 24 hours after opening reservations, Tesla had advanced orders for over 180,000 units, which is the record for the highest single-day orders of any product. As of April 3, 2016, Tesla Motors reported 276,000 reservations that represent potential sales of over US$11.5 billion.

One week after the unveiling, Tesla reported over 325,000 reservations, which corresponds to about US$14 billion in potential sales. Musk reported that 5% of reservations correspond to the maximum of two vehicles allowed per customer, "suggesting low levels of speculation". Tesla Motors claims "this is the single biggest one-week launch of any product ever." According to Bloomberg News, "the Model 3's unveiling was unique in the 100-year history of the mass-market automobile." Bloomberg reported that while the 1955 Citroën DS took in 80,000 deposits over 10-days at the Paris Auto Show, the Model 3 took 232,000 reservations in two days. In another comparison, the original iPhone reached 270,000 sales and reservations in two days.

According to Tesla’s global vice-president Robin Ren, China is the second largest market for the Model 3 after the U.S. Tesla reported the number of net reservations totaled about 373,000 as of May 15, 2016, after about 8,000 customer cancellations and about 4,200 reservations canceled by the automaker because these appeared to be duplicates from speculators.

Production
The company plans for the Model 3 are part of Tesla's three step strategy to start at high price and move progressively towards lower cost, where the battery and electric drivetrain technology would be developed and paid for through sales of the Tesla Roadster and Tesla Model S vehicles. Whereas the Roadster used carbon fiber and the Model S and X use aluminum for the body, the Model 3 is made out of a combination of steel and aluminum, steel being the dominant material. Musk has said that Tesla will need to sell 500,000 cars per year (mostly Model 3) to become profitable. According to Tesla's CTO, JB Straubel, in October 2015 most Tesla engineers were working on the 3 rather than S or X. Due to demand, Tesla intends to double Model 3 production targets to 100,000 in 2017 and 400,000 in 2018.

Specifications
The base model is expected to have: Optional features:
 * Minimum 215 mi (346 km) range (EPA-rated)
 * Estimated measurements L × W × H 4,676 mm (184.1 in) × 1,885 mm (74.2 in) × 1,435 mm (56.5 in), wheelbase 2,870 mm (113 in)
 * Autopilot hardware and active safety features
 * Rear wheel drive
 * Sub-six-second 0–60 mph (0–100 km/h) acceleration time
 * Expected drag coefficient of C d =0.21
 * Front and rear trunks
 * Single center mounted 15-inch (380 mm) LCD console display in landscape orientation
 * Different "steering controls and system" than seen in the unveiled prototypes, that "feels like a spaceship"
 * Rear roof area is one continuous piece of glass
 * Worldwide electrical voltage and amperage charging compatibility
 * Supercharging capability
 * Dual motor all-wheel drive
 * Longer-range battery pack
 * Performance versions with shorter 0–60 mph (0–100 km/h) acceleration times
 * Autopilot convenience features
 * Glass, metal or sunroof center roof panel
 * Tow hitch
 * Vegan friendly (non-leather) interior
 * Active air suspension
 * Ludicrous speed
 * Supercharger network access

Markets
In 2017, Tesla plans to enter several additional countries before the release of the Model 3. India, Brazil, South Africa, South Korea, New Zealand, Singapore, and Ireland are some of the countries that are included for Model 3 sales.

Criticism
Jason Torchinsky of Jalopnik criticized the use of a rear trunk instead of ahatchback, similar to what is used on the Model S.