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gearing up

Musk says Tesla gearing up to make its first Model 3

Tesla's new Model 3 sedan, the electric car maker's first mass-market car, has passed all regulatory requirements for production, CEO Elon Musk said in a tweet on Sunday night. The Model 3 got past the regulatory hurdle two weeks ahead of schedule. Musk said production was on track to start in July as planned, with the first car expected to roll off the assembly line on Friday. "(Model 3) Production grows exponentially, so Aug should be 100 cars and Sept above 1,500," Musk said. "Looks like we can reach 20,000 Model 3 cars per month in Dec." The Model 3 is priced at $35,000, and buyers could cut their costs with a $7,500 federal electric car tax credit.