Tesla has confirmed that the design of the upcoming Model 3 is not yet finalized. This news comes after massive initial interest saw over 325,000 people reserve a car.
Despite plans to go into production with the Model 3 in the next 18 months, Tesla has yet to finalize the supply and procurement for many of the parts that will make up the Model 3. Tesla CEO Elon Musk shocked investors last week when he announced plans to accelerate the production schedule of their Fremont, California plant. The move will see the plant produce a target of 500,000 vehicles in 2018, a full two years ahead of schedule.
The accelerated production schedule is “aggressive,” Barclays analyst Brian Johnson said in a phone interview on Tuesday. “Finalizing the design work, and lining up the suppliers and launching in one and a half years seems not possible.”
According to Musk, Tesla is still “evaluating, qualifying and selecting our suppliers” for the Model 3.
Tesla saw an operating loss of $248 million last quarter and has failed to meet their release deadlines on the Model S and Model X SUV.
The Model 3 has a retail price of $35,000 and is scheduled to be released in 2017.