Tesla’s latest electric car, the Model 3 is scheduled to be on sale later this year – the company says it’s on time to commence building the final versions starting in July with the capacity to assemble up to 5,000 per week this year and 10,000 a week next year.

This news was announced las week in the company’s Q1 earnings report.

Branding issue

With the Model 3, Tesla is facing some other issues with what they have named the latest car. During the earnings call, Elon Musk, the Tesla CEO mentioned the name choice is having an effect on Model S sales, due to customers thinking the Model 3 replaces any older Models.

“We have seen some impact on Model S [orders], as a function of people being confused that Model 3 is an improved version of Model S. The Model 3 was supposed be call the Model E, but then Ford came to sue us. I thought we were being clever by calling it the Model 3, but the jokes on me.”

He also added later that: “We want to be super clear that Model 3 is not version three of our car.”

Availability

The Tesla Model 3, which was unveiled around a year ago in California is due to go one sale at the end of the year, this less expensive model is the third model is the company’s new range – with the first car being Tesla Roadster, then Model S, Model X and now Model 3.

Model 3 wil cost from $35,000 with no UK pricing revealed. It will feature 215 miles on one charge, room for 5 people and feature the Autopilot, self driving technology.