Tesla has asked all its Model 3 reservation orders in the U.S. and Canada to confirm their orders by paying $2500.
Over 400,000 people placed $1000 deposits on the entry-level electric sedan and the additional $2500 is needed before Tesla starts building their cars. If all 400,000 were to confirm their orders this week, Tesla could enjoy a cash injection of roughly $1 billion
As the second quarter of 2018 comes to a close, Tesla could end the first half of the year on a positive note and with its piggy bank topped up.
The Detroit News reports that people with Model 3 reservations have three variants to choose from when confirming their orders. First up is the Model 3 Long Range Rear-Wheel Drive and followed by the Model 3 Long Range Dual Motor All-Wheel Drive. The electric automaker also recently opened up the books for the long-awaited Model 3 Performance. Those waiting for a Model 3 but who want the long-promised $35,000 base model will have to keep waiting.
Tesla needs a lot of cash to achieve its production goals.
Tesla has been attempting to consistently get production of the Model 3 up to 5000 units a week. However, Bloomberg reports that by the end of June 2018, this figure will sit on average at just 3400 units. Earlier this month, Tesla erected a new general assembly line within a massive tent in its attempt to boost production.
Those with orders for the Model 3, as well as the S and X, will be displeased to know that the carmaker will soon lose its eligibility to receive the $7500 federal tax credit for each vehicle after hitting the 200,000-unit sales mark.
Clarification: The $2500 goes towards the cost of the car, it is not an additional fee to be paid on top of the MSRP.
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