Tesla says new Model 3 pre-orders will ship in mid-2018
Tesla said on Tuesday said buyers who placed new pre-orders for its Model 3 sedan will have to wait until mid-2018 for deliveries of the all-electric car.
"Production begins late 2017. Delivery estimate for new reservations is mid-2018 or later," said Tesla on its website Tuesday.
Customers who previously reserved a Model 3 could see it delivered in late 2017.
Investors initially reacted with panic to the website update, believing the new timeline indicated a stall in production plans.
"Today's website update doesn't reflect any change in our plans," Tesla said in a statement to Bloomberg. "We still plan to begin Model 3 deliveries in late 2017, and we adjusted the date on our marketing page to reflect more accurate timing for new/future reservation holders."
The Tesla Model 3 does 0 to 60mph in less than six seconds and will have a range of at least 215 miles. So far, Tesla has showed its base Model 3, but it said new features could come to pricier versions of the Model 3 in the future, adding more technology and bigger battery packs for extended range.
Tesla CEO Elon Musk teased the all-electric car maker's plans to unveil a new product on Wednesday.