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Company set to commence sales of Model 3 vehicle in the US

US electric car manufacturer Tesla is poised to launch its Model 3 in the US. This is its most ‘affordable’ vehicle to date at a pricing point of $35,000.

The company hopes to hit production of 5,000 a week by the fourth quarter of 2017.

The car certainly looks more affordable than Tesla’s shares, valued by the market at more than $52.8bn despite the company still being loss-making.

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