Tesla is a company associated with electric vehicles and their newest Model X is the talk of the town. The first ever electric SUV which posed stylish Falcon doors, an amazing mileage and stylish design combined with a ludicrous speed mode.

The company recently submitted their financial report for the third quarter and during the event, they spoke at length about their future plans. One of the prominent goals that they will be working towards is to deliver at least 50,000 Model X cars to the buyers before the end of 2015. That’s a huge objective to go for, because the GigaFactory designed to produce electric cars quickly is still under construction and may take at least two years to get completed.

Tesla’s existing factories are busy producing Model S and Model X, while their research and development team is busy building bigger batteries to make the cars go much longer than they already do. The company has some solid plans to release a Model 3 in the next three years which is going to be the cheapest electric car in the world, if their proposed idea can be conceived into reality. The car is expected to be priced at $35,000 on launch and offer a distance of at least 250 miles on a single charge.

Meanwhile, the manufacturer has delivered about 33,157 Model X SUVs to people who pre-ordered the car over a year ago. It was delayed multiple times due to various reasons, including the one where Apple took over some of Tesla employees with better package and allowances. They wanted to build an electric car tech of their own, which made them go after those who have proven experience in the sector. Besides, some unique features like towing capacity in an electric SUV, the falcon wing doors and large, independent second row seats posed technical difficulties.

CEO Elon Musk of Tesla spoke at length about the company’s future plans. They are setting up an energy plant and has entered China on a smaller scale. The brand has new members in its management team and is focusing on the Model 3 scheduled for a 2017 launch.