Buyers of Tesla 's Model 3 could have to wait until next year before receiving their orders. A company spokesperson said the new guidance did not reflect a delay in production, which is due to start a year . Tesla now has 400,000 reservations for the Model which is intended to take Tesla from being a niche carmaker producing around 50,000 luxury EVs a year to more of a mass-market producer. Tesla CEO Elon Musk has projected production numbers for all three electric models of around 500,000 units a year, and has been building out a massive plant that it dubs the Gigafactory in the desert outside of Reno, Nev., for the manufacturing of battery cells and, eventually, cars. With a current valuation of $ 1,000 and having taken on more financial challenges in the shape of Tesla , that growth is considered critical to Tesla 's success.
Buyers of Tesla 's Model 3 could have to wait until next year before receiving their orders. A company spokesperson said the new guidance did not reflect a delay in production, which is due to start a year . Tesla now has 400,000 reservations for the Model which is intended to take Tesla from being a niche carmaker producing around 50,000 luxury EVs a year to more of a mass-market producer. With a current valuation of $ 1,000 and having taken on more financial challenges in the shape of Tesla , that growth is considered critical to Tesla 's success.