Elon Musk, CEO of Tesla, has unveiled the Tesla Model 3 Electric car which will be priced at $35,000. He has an ambitious plan to produce 600,000 of them annually which works out to 50,000 per month. The first batch of these electric cars was sold to employees who are expected to provide the all-important feedback related to its performance and quality.

Can Elon Musk deliver the goods?

New York Times reports that Tesla is a well-known brand in the field of electric cars and the facility, located outside San Francisco, had been started as a joint venture between General Motors and Toyota in the 1980s.

Subsequently, when General Motors went bankrupt in 2009, Elon Musk stepped in to acquire it.

As of now, nearly half a million people have deposited an amount of $1,000 each since last year to reserve delivery of Tesla Model 3 cars as and when they are available. One of the problems that the company needs to resolve is augmenting its manufacturing capacity in Fremont to cater to the demand.

Another probable hurdle could be a shortage of battery packs for the electric cars. This has already created a bottleneck, and only 25,000 vehicles were produced in the three months that ended in June. This is a setback when the planned target is 600,000 annually. Apparently, the present output compares poorly with the output of big brands like Volkswagen and Toyota who produce an average of 25,000 vehicles every day.

Plans of Tesla

Elon Musk is also the owner of SpaceX and is deeply involved in projects related to space exploration including plans to colonize the red planet Mars. Therefore, his Tesla Model 3 could capture the market and influence the people to go in for electric cars which will not only be free from pollution but will also reduce the emission of harmful gases.

That will be a boon for society.

Tesla expects to deliver the first Model 3 electric car to its customers by the end of the year. The car is expected to have a range of slightly over 200-miles on a single battery charge and is believed to be comparable to what is offered by other brands in the market. Those who have deposited $1000 to get the new Tesla priced at around $35,000 are eagerly waiting to hear from Tesla.

The company has been manufacturing electric cars on a limited scale for nearly a decade and has set for itself tough goals. It is keen to monopolize the market, reduce dependency on fossil fuels and popularize the concept of alternative energy like electricity to power the vehicles. That will lessen CO2 emission and arrest global warming along with the evils of climate change.