What happened to the 'affordable' $35,000 Tesla Model 3?

It's March 2016. Tesla Chief Executive Elon Musk is on stage for the dramatic unveiling of the Tesla Model 3.

Tesla will make hundreds of thousands a year, he said. It will be fun to drive. It will be affordable. "In terms of price, of course, it'll be $35,000," he beamed, awash in thunderous applause.

Now it's May 2018. You can't touch a Model 3 for under $49,000. No one's sure when the $35,000 version will be available. Production problems have pushed delivery of the lower-priced Model 3 six to 12 months into the future, according to official estimates from Tesla, a company notorious for missing deadlines.

In the meantime, the company is taking deposits and reservations now for a $78,000 version of the Model 3 that will go on sale this summer.

Read the entire article at LAtimes.com