Elon Musk Finally Announced a Release Date for the Model 3

Word just came straight from Elon Musk himself: Tesla will unveil the production version of the Model 3 in July.

It will be the third and final part of the unveiling for the highly anticipated mass market Tesla vehicle, and this is the first time the Tesla CEO has announced a definitive month for its arrival. His announcement came as a reply to an inquiry made on Twitter.

Demand for Tesla's mass market model has been unprecedented. The Model 3 is priced at $35,000 before tax incentives and will have a range of at least 346 kilometers (215 miles) per charge. Right now, around 400,000 people have signed up for pre-order, prompting Tesla to set ambitious production targets.

According to the company, they are planning to produce 500,000 cars annually by 2018 and reach one million by 2020. To date, Tesla has only been able to produce 76,000 vehicles since 2016. But given that the Model 3 is actually easier to produce than any of their higher-end models, it shouldn’t be too difficult for Tesla to achieve this objective.

The Model 3's arrival in the market will also be a milestone in the mass adoption of autonomous electric vehicles. Once they're fully integrated into our society, electric self-driving cars will not only help Musk in his pursuit of a fully sustainable world, but also significantly improve road safety.