Tesla is preparing to unveil the $35,000 Model 3 on March 31, as the company announced on its fourth quarter 2015 earnings call.
Production and delivery of the Tesla Model 3 is slated to begin in late 2017.
Tech Times previously reported that the Model 3 was all geared up for a launch in March 2016 , according to a statement released in November by Elon Musk. The company had also revealed back in May 2015 that it planned to introduce the much-anticipated Model 3 in March this year, but some were expecting a delay.
With the latest announcement, however, it seems like Tesla's original plan to launch the vehicle in March will push through after all.
Musk even sent out a number of tweets and in one of them, he mentioned dates such as March 31 and April 1 for those who want to make their reservations for the Model 3.
Model 3 reservations ($1000 down) will be accepted in Tesla stores on March 31 and online April 1
— Elon Musk (@elonmusk) February 11, 2016
Musk also promised to unveil more details on Model 3 in the coming weeks.
The Tesla Model 3 is expected to be significantly lighter than the Model S. In line with its upcoming launch, the company plans to invest in equipment that would provide support to its cell production at its Gigafactory. Here, the company plans to start installing the Model 3's production machinery.
Tesla also plans to open 80 more retail and service locations while it expands its Supercharger locations to around 300 more.
At the earnings call, Tesla revealed how its Model S became the sole vehicle in its class to have enjoyed growing sales last year. The same impressive performance was seen in the competitors' home location and in other locations where the government has no purchase incentives for electric vehicles.
"Model S is winning," said Tesla. "For example, in Switzerland, Model S outsold the Mercedes Benz S-Class, the BMW 7-Series, the Porsche Panamera and the Audi A-8 combined for the full year, and also outsold the Mercedes Benz E-Class."
Tesla also announced plans to deliver 80,000 to 90,000 Model S and Model X vehicles this year and added that its average vehicle transaction price is expected to slightly increase in the same year.
"Q1 operating expenses should increase just slightly from Q4 as we sharpen our focus on expense management," said Tesla. "Then as development work continues on Model 3 and as we expand to support growth, operating expenses should increase throughout 2016, so that for the full year total operating expenses should increase by about 20 percent."
