Tesla Inc.’s (NASDAQ:TSLA) founder Elon Musk has shared the first images of the company’s Model 3 electric car on Twitter.
Musk tweeted photos of the four-door Model 3 outside the Tesla factory site in California on Saturday after it came off the assembly line.
— Elon Musk (@elonmusk) 9 July 2017
Production unit 1 of Model 3 is now built and going through final checkout. Pics soon.
— Elon Musk (@elonmusk) 9 July 2017
First Production Model 3 pic.twitter.com/TCa2NSUNI3
— Elon Musk (@elonmusk) 9 July 2017
The first 30 customers will receive the Model 3 on 28 July before the car becomes available to the public at a base price of US$25,000, making it more affordable than the company’s other ranges that typically sell for at least US$90,000.
Musk last week revealed that he expected production to ramp up quickly with 100 vehicles in August, a further 1,500 or more in September, and 20,000 per month by December.
It marks Tesla’s first step as a producer of mass-market electric cars as the group has previously focused on the output of luxury vehicles in relatively small numbers.
Tesla’s share price more than doubled between December and late June on optimism for Musk’s strategy to target the masses with a more inexpensive electric car.
Production delays and initial quality issues for Tesla’s previous Model S sedan and Model X SUV had sparked doubts from some analysts about the new model.
However, Musk gave the market a pleasant surprise on 2 July when he revealed that the Model 3 received regulatory approvals for production two weeks ahead of schedule.
A day later, Tesla disappointed investors last week with its second quarter delivery numbers, saying production was hit by a shortfall of batteries. Telsa delivered just over 22,000 vehicles in the three months, of which just over 12,000 were Model S and just over 10,000 were Model X.
Tesla shares bucked a recent trend to rise 0.9% on the day.