Tesla Inc (NASDAQ:TSLA) finally held the big event to celebrate the launch of its latest — and most important to date — new vehicle release: the Tesla Model 3.
Other Tesla vehicles have been important in their own way. The Roadster was its first electric car, a critical milestone in the company’s history. The Model S has been its bread and butter, proving that the upstart automaker can produce premium cars in quantity. The Model X was its entry into the popular crossover SUV market.
But the $35,000 Tesla Model 3 with a 220 mile range is the release that will make or break the company. The Model 3 is aimed at the mass market. It will test Tesla’s capacity to produce vehicles like never before. And if all goes well, the Model 3 won’t just drive TSLA stock to new levels, it could kick-start wide scale consumer adoption of electric cars.
In order to be the hit TSLA is counting on, the Tesla Model 3 has a few competitors to knock off.