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Tesla Model X to arrive on September 29, Model 3 preorders in March: Musk

Tesla Model X to arrive on September 29, Model 3 preorders in March: Musk - Tesla CEO Elon Musk on Wednesday said that the delivery of the company's Model X will happen on September 29.

Musk also provided information about X pricing and Model 3 preorders. "First production cars will be handed over on Sept 29 at our Fremont factory," Musk tweeted on Wednesday. And in an effort to clarify some confusion about pricing for the X, he said this: "With same options, Model X is $5k more than an S due to greater size & body complexity. Sig Series is fully loaded, hence high price," he said.

"Sig" refers to the high-end Signature Series. The company said on Tuesday the Model X Signature series will start at $132,000. The Model X is first crossover utility vehicle (CUV) manufactured by Tesla and it adds the required diversity to the lineup - to date primarily one car, the Model S.

Musk also tweeted about the Model 3, Tesla's future mass-market vehicle. "Model 3, our smaller and lower cost sedan will start production in about 2 years. Fully operational Gigafactory needed." And in a separate tweet: "$35k price, unveil in March, preorders start then."

"In about 2 years" means that Tesla will start the production for the Model 3 in the fall of 2017. Not much is known about the design of the Model 3 other than what Musk said in February during the company's earnings conference call. "We got quite adventurous with the [Model] X that would be too risky given the Gigafactory and everything sort of has to happen on time. We're not going to go super crazy with the design of the initial version of the 3."