Tesla announces more affordably priced Model 3 will start rolling off assembly line Friday

Posted at 7:06 AM, Jul 03, 2017
and last updated 2017-07-03 07:09:09-04

The first Tesla automobile for the masses is set to roll off the assembly line Friday, according to tweets from Tesla CEO Elon Musk.

The company's fully electric Model 3 car is priced at $35,000 (or $27,500 after federal electric car tax credits), which NPR reports is roughly half the cost of the luxury brand's vehicles to date.

Late Sunday night, Musk also tweeted that production would increase exponentially with 100 cars in August, more than 1,500 in September and 20,000 per month in December. Musk also announced a July 28 "handover party" for the first 30 buyers of the Model 3.

Tesla has inched ahead of General Motors in April to become the most valuable car company in America.