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Tesla's lower-priced Model 3 to start production Friday

07 July 2017, 12:44 | Maryann Sutton

Nokia Corporation (NOK) has a market cap of $35.86 Billion

Tesla Model S Model X get power boost in latest update image

Of the 22,000 units delivered, Tesla's report from Monday showed that just over 12,000 were Model S and just over 10,000 were Model X units. And a little more still when one considers how Tesla's delivery shortfall - hardly the first of its kind - might be stoking fears that Tesla won't hit the very aggressive production targets it has set for the coming months and years. Provided global economic conditions do not worsen considerably, we are confident that combined deliveries of Model S and Model X in the second half of 2017 will likely exceed deliveries in the first half of 2017.

Goldman Sachs has been cautious on Tesla for some time. The company is expected to accelerate the release of units in the coming weeks to keep up with the demand for the electric auto model. The Model 3 will only be available in rear-wheel-drive initially.

Tesla Model X. Image source: Tesla.

The first production model of Tesla Model 3 electric vehicle will be arrayed this coming Friday. August production "should be" 150 cars, he said, and he projected more than 1,500 of the vehicles will be made in September.

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Earlier this week, Tesla announced the first of its Model 3 vehicles, referred to as the electric "car for the masses", will roll off the assembly line Friday and go on sale on July 28. The company has been shifting the cell chemistry of its latest packs to using more silicon rather than graphite, Mr Musk said at the time.

After Monday's close, Tesla reported a smaller-than-expected Q2 deliveries of the Model S and Model X, citing big battery shortages. Elon Musk envisions it reaching a much wider range of customers and has said he expects it to push Tesla's output to 500,000 cars a year in 2018.

This automobile has sparked strong demand and the hopes placed in it have allowed Tesla to become recently the first U.S. vehicle group in terms of market capitalization, despite the fact that General Motors (GM) and Ford produce millions of cars per year. The current share price indicate that stock is -21.25% away from its one year high and is moving 96.88% ahead of its 52-week low. The Model 3 is the most affordable vehicle from the brand yet. Tesla's upcoming $35,000 sedan has already garnered hundreds of thousands of pre-orders, and was created to be mass produced, unlike Tesla's prior vehicles.

Tesla's lackluster second-quarter sales may fuel some bearish arguments about its uniqueness, but the electric carmaker still has a clear advantage over its competitors, an analyst told CNBC on Tuesday.

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