In a press release, Tesla, the electric automobile manufacturer got candid about their past and revealed that hubris caused the delay.

It made them delay deliveries of the Model S/ Y cars but promised that the same will not be repeated.

When the company officially stepped into the world of automobiles, they launched the Model S sedan. It is an expensive saloon designed for the elite crowd and took nearly three years from announcement to delivery. The same happened with their second model named Model X. It’s a luxury SUV with stylish gull wing doors. The delay was so much that most buyers lost hope of receiving the car until it finally happened.

All these delayed deliveries are a thing of the past because Tesla is moving towards the future with an amazing, inexpensive electric model named Model 3. The car is stylish in looks and promises over 200 miles on a single charge. Even before its official announcement, people stood in queues and has reserved one for them by paying the $1,000 reservation fee.

Over 300,000 pre-orders have been placed for Model 3 all-electric sedan. It is not an easy task delivering them all to the buyers. However, Tesla confirmed that they are not going to delay things as the company is ready to face such bulk orders. Reminiscing the past, the press statement added that there were not enough suppliers, lack of components and host of new innovative features that led to the delay of Model X SUV.

Things have changed with Model 3 as Tesla is more than ready to handle demands. Besides, they have access to all the innovative features showcased in the car. The company has its own Gig factory to produce batteries for the car. Model X deliveries on the other hand is being handled in an orderly fashion. Most people who ordered it have received theirs and production capabilities have been significantly bumped up in the year 2016.

Model 3 is scheduled for production in 2017 and will reach customers by 2018. It will be rolled out in different segments based on first come, first serve. Existing customers of Tesla brand will be given priority after which newer ones will be entertained. The base model is priced at $35,000. However, most customers choose to customize their vehicles which increased the average purchase to $42,000 and the company made sales worth over $7.5 billion on launch day.