Tesla may have Model 3-related news on Sunday: Musk

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June 30, 2017 10:09 AM EDT

The Tesla corporate logo is pictured at a Tesla electric car dealership in Sydney, Australia, May 31, 2017. REUTERS/Jason Reed - RTX38AWB

(Reuters) - Electric car maker Tesla Inc may have an announcement related to the release date of its first mass-market Model 3 sedan on Sunday.

Tesla Chief Executive Elon Musk said there would be "News on Sunday", in reply to a tweet by Sydney-based Douglas Bailey who asked Musk to end the speculation on the Model 3 release date. (http://bit.ly/2sYEhOE)

Musk had said in May that Tesla was on track to begin production of the Model 3 sedan in July. The car will be priced at about $35,000.

Tesla expects to produce over 5,000 Model 3s per week by the end of this year and 10,000 vehicles per week "at some point in 2018".

Musk had said the car will first be offered only with two-wheel drive and that the all-wheel drive version will likely arrive early next year.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)


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