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Tesla Model 3 Update: Gigafactory Production, Price, Specs & Release Date

What is arguably the real trouble with Tesla’s earlier releases – the Model S and Model X – is that it was beyond what most people could afford. For this reason, the Model 3 has become so popular in the battery-powered vehicle world.

Fortunately, the company has already begun construction in its Gigafactory, which should help deliver on reservations and production targets.

According to Elektrek, Tesla recently held an event for its investors last week at its Gigafactory in Nevada. Coming from that event are some vital pieces of information regarding the company, its Model 3 and its plans for the immediate future. One of these is the start of production on the 2170 battery cell, which will be fitted into the Model 3.

The mass production of the new battery cell, which is both thicker and taller than previously used cells, allows for more energy at a lower cost.

This helps the Model 3 in terms of price, but actual production for the upcoming model is not scheduled until the second quarter of the year. There is, as Tesla admits, one more thing that helps minimize the cost of the upcoming electric car – putting everything under one roof.

Put the Gigafactory has one other feature that will take it one step further. Elon Musk revealed that Tesla plans to power the plant through solar energy – which would conversely answer why SolarCity was acquired by the company.

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