Tesla Model 3 release date, specs & price news update: Will the upcoming Tesla car make it in time for a late 2017 release?

The upcoming car model Tesla Model 3 was proudly announced by Tesla CEO Elon Musk last March 2016 in California. On the same night, around 158,000 people have placed their reservations for the Model 3, and until now, that number has continuously grown by the day.

With reportedly more than 400,000 pre-orders, there are worries from critics and supporters alike that Tesla won't be meeting their earliest shipping date of late 2017. However, according to Business Insider, the Tesla Model 3 will make it on time and will be ready to roll by the end of 2017.

With the assumption that the basic design and engineering of the vehicle is complete, then building the vehicle is allegedly a matter of adding the manufacturing capacity in Fremont, setting up the suppliers and getting the parts, squaring away the labor and configuring the industrial machineries that will do the heavy-lifting, and having the proper stamping and tooling at the plant where the cars will be put together.

To accomplish this, Tesla recruited an expert production executive from Audi to assemble 500,000 units by 2018.

As reported by Citizen Oracle, the Tesla Model 3 is a premium sedan priced at $35,000. The vehicle is said to offer the best safety features, designed to achieve a 5-star rating when it comes to safety. The electric car can run as far as 215 miles per charge. The Model 3 is also equipped with supercharging capability, auto-pilot hardware, and a seating capacity for five adults.

It was previously reported that Tesla is known for its habit of unveiling their vehicles in stages. For the Tesla Model 3, "Part 1" was done earlier this year, followed by "Part Two" in October. "Part Three," according to Musk, will happen sometime in spring 2017, and it will be the launch of the final and complete version of the Model 3.

For now, interested buyers of the electrically-charged vehicle can reserve a Tesla Mode 3 unit for $1000 on Tesla's official website.