Tesla's very first Model 3 could roll off the line today — here's what you need to know (TSLA)

Tesla Model 3

Tesla is expecting to have a very big day.

The very first Model 3 is expected to roll off the assembly line. It will mark the start of production for Tesla's first mass-market car.

There will be handover party for the very first 30 Model 3 customers on July 28. Tesla will then ramp up production to 1,500 cars in September and, ultimately, 20,000 cars per month by December.

Tesla first unveiled the car last March and secured roughly 400,000 customers pre-orders for the vehicle.

We broke down everything you need to know about the Model 3 — here's a closer look:

First, the basics. Tesla will offer at least four color options for the Model 3: red, silver, metallic gray, and black.

Tesla's big selling point for the Model 3 is its affordability, with a starting price of $35,000 before tax incentives. But for customers who want the full Tesla experience, however, the final price will most likely surpass $40,000.

It's unclear whether customers who buy the Tesla Model 3 will be eligible for the full $7,500 federal tax incentive — that credit applies only to the first 200,000 cars a manufacturer sells domestically.

Tesla globally sold about 80,000 vehicles in 2016 and about 50,000 vehicles in 2015. Factoring cars sold since 2008, Tesla will be cutting it close to 200,000 vehicles by the time deliveries begin at the end of the year.

But the credit doesn't disappear the second an automaker hits 200,000 vehicles. Instead, the credit would first fall by 50%, CNN reported.

On its website, Tesla doesn't make any guarantees about the federal tax incentive.

"We are committed to providing you with the most current information about incentives at the time of purchase. We'll do the same when it's time for confirming your Model 3 order," the website says.

Tesla's new Autopilot system will also cost at least $5,000, but more on that later.

Tesla says the car will be able to drive at least 215 miles on a single charge. That's pretty darn good for a $35,000 car!

The latest models of the Nissan Leaf and Hyundai Ioniq Electric cost about $30,000 but have more limited ranges: 107 miles and 124 miles, respectively.

The Model 3 will compete more closely with the Chevy Bolt, which can drive 238 miles on a single charge and starts at $37,495.

See the rest of the story at Business Insider