Musk: We’ll Begin Taking Tesla Model 3 Deposits On 31 March After Official Reveal. $1,000 Secures Reservation

Yesterday, Tesla Motors [NASDAQ:TSLA] published its official Q4 2015 and full-year earnings, showing an increase in revenue, production and deliveries during the quarter but widening overall losses as it tries to undergo the fastest expansion we’ve seen of any company in living memory.

Some of that expansion is focused on Tesla’s next-generation Model 3 electric car, a car that Tesla CEO Elon Musk promises will sell for a retail price of around $30,000 before incentives, offer the same legendary customer sales and support as Tesla’s other models, and be compatible with Tesla’s network of free-to-use Supercharger DC quick charging stations.

Musk says you will be able to place your $1,000 reservation for a Model 3 on March 31.

Musk says you will be able to place your $1,000 reservation for a Model 3 on March 31.

During yesterday’s Q4 earnings report, Tesla disclosed that the official reveal of the Tesla Model 3 will occur on March 31 at a special event, the location of which has yet to be confirmed. Last night, via Musk’s favourite social media platform Twitter, he confirmed that the Tesla would begin taking deposits for the Model 3 the same day, with a $1,000 deposit all that’s required to secure yourself a place in the line to buy one after it enters production in late 2017.

While little is known about the Model 3 at this time, Musk let slip another important piece of news about the highly-anticipated plug-in: unlike the Tesla Roadster, Tesla Model S and Tesla Model X before it, there will be no special ‘signature series’ models for early adopters and investors to clamor over.

Consequently, the amount to reserve a Model 3 will be the same regardless of who you are and which model you ultimately pick, something that is bound to be music to the ears of Tesla fans who had feared a signature series Model 3 would push their own reservation back by months as Tesla strove to satisfy the orders of its higher-paying customers first.

We're sure to find out more in the coming weeks.

We’re sure to find out more in the coming weeks.

While Musk promised more on the Model 3 in the coming weeks — and given his past form on Twitter we can expect an almost constant stream of information drip-fed through late-night tweet sessions from the man himself — these two pieces of news show that Tesla is deadly serious about making the Model 3 as accessible as possible to everyone. In recent months, Tesla has come under criticism from many analysts and outlets, including this one, for seemingly focusing on high-end luxury features like autopilot and high-ticket cars like the Model X rather than concentrating on Model 3.

It appears we, and other dissenting voices, may have been wrong.

As for features to expect? Musk has dropped some hints in the past that Model 3 will include at least some form of autonomous driving capabilities, although it’s not clear if those features will be included in the Model 3 at time of launch. Given Tesla’s priority for the Model 3 is volume, range and affordability, we’re guessing autonomous vehicle capabilities may take a back seat, at least initially.

With the Model 3 launch just over six weeks away, we’ll be bringing you the latest Model 3 news as we have it, as well as covering the launch event in all its glory. In the meantime, if you have any questions or thoughts about the Model 3, be sure to leave them in the Comments below.

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