Tesla has not said when it expects to unveil its latest all-electric SUV, but the automaker has been hinting that the new vehicle could be ready to go at some point this year.
In an interview with The Wall St Journal published on Thursday, Musk said he expects the first Model 3 will arrive at the end of the year, and he expects it to be a production vehicle.
The Model 3, which is expected to be roughly the size of a compact SUV, is expected be more affordable than its predecessor.
Musk said the Model 3’s design and size is similar to the Model S, which he said has been successful.
Musk also predicted that by 2019, there will be more than 3,000 new electric vehicles on the road, including a new SUV and a sport utility vehicle.
“The first vehicle is going to be about 3,500 cars, probably about 700 of them will be in production,” Musk said.
We’re going into production now, so we’re very optimistic. “
You’re going to see a lot more production.
Tesla has been a steady source of positive news for investors. “
I think you’ll see more production than the last Model 3,” Musk continued.
Tesla has been a steady source of positive news for investors.
The company reported its first profit in nine years in 2016.
In 2017, the company announced plans to sell its Model 3 SUV for $35 000.
Tesla sold 1.1 million Model 3 vehicles in its first six months of 2017.
The automaker is currently working on a new version of its all-wheel-drive, battery-electric vehicle.
Musk has also been pushing for Tesla to get into the electric vehicle business.
The startup, which has raised $1.2 billion from investors, is also working on electric car production in a number of different ways.
In September, Tesla unveiled the Model Y, a $50,000 car that it said would have an “all-electric” drivetrain, which it said was powered by batteries and the power of wind turbines.
Musk and his co-founder, JB Straubel, also unveiled the electric Tesla X, a more affordable, all-terrain vehicle with an electric drivetrain that is due for release later this year, according to Bloomberg.
Tesla is expected in 2020 to release the Model X SUV.