Cars

Tesla Rolls Out $350 Million Red Carpet For Model 3

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Remember back in December last year when we shared with you a report about a backup fund which Tesla Motors can use to fuel the Model 3’s development? Well, the report was immediately met with a confirmation from Elon Musk but the chief is reluctant to use it unless necessary.

Fast forward till today, Elon has finally decided to put his hands in the cookie jar as he is desperate to meet the pre-orders made for the Model 3. The number of pre-orders has exceeded 300,000 and this is something which even the Gigafactory can’t accommodate if the dateline is nearby.

The reveal was made by Governer Brian Sandoval and it confirms that Tesla has splurged an extra $350 million dollars to develop the Model 3. The move will see an expansion to the Gigafactory and also the opening of 550 more jobs.

The only question left to be answered is will it be enough to ensure a timely delivery of the Tesla Model 3?