Tesla Says Newly Reserved Model 3 Delivery to Start Mid-2018

Tesla Motors Inc. said buyers who place new orders for Model 3 vehicles can expect to begin receiving deliveries as soon as mid-2018, with production starting as scheduled late next year.

“Production begins late 2017. Delivery estimate for new reservations is mid 2018 or later,” the electric-car marker said on its website Tuesday. Tesla shares briefly pared gains after the news was initially interpreted as a delay in the introduction of the vehicle. The shares rose 2.7 percent to $199.34 at the close in New York.