Tesla has announced that it plans to start delivering pre-orders of new Model 3 orders by mid-2018. The company will start shipping the cars by late 2017.

Tesla currently has close to 400,000 pre-orders on its books. The $35,000 car is designed to be an entry-level electric vehicle.

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Tesla plans to start producing the cars by the middle of the next year. The company has indicated on its website that the delivery of new orders will "begin late 2017" to "mid-2018 or later." Tesla, however, emphasized that this does not necessarily mean any change in its plans. The company representative stated that the change was been carried out to provide a more accurate picture of the delivery schedule.

Tesla has ambitious plans for the future. The company is looking to launch an unexpected product at an upcoming event. There has been no indication about this probable product so far. The event is scheduled for October 20.

The event was originally planned for October 18. However, the date was pushed by two days back due to the need for "a few more days of refinement." It is widely speculated that the announcement may pertain to the Model 3's final design.

Pre-orders for Tesla's Model 3 started in March this year. The pre-orders require a deposit of $1,000 each. By June, the company announced receipt of nearly 400,000 pre-orders for the entry-level sedan. Tesla CEO Elon Musk plans to ramp up the production capacity of all its three electric models to 500,000 units a year. The company is currently developing a Gigafactory plant in Reno, Nevada.