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Tesla accelerates to hit target of 500 000 cars yearly

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<B>MODEL NO.3:</B> Tesla has a third model in the works and it's speculated to be more affordable than its current two models on sale. <i>Image: Tesla Motors via AP</i>
<B>MODEL NO.3:</B> Tesla has a third model in the works and it's speculated to be more affordable than its current two models on sale. <i>Image: Tesla Motors via AP</i>

San Francisco - Tesla is speeding the timeline for building 500 000 cars annually as it steps up production to meet growing demand for its electric vehicles.

Hot demand for a new, more affordable Model 3 led the company to shave two years off its timeline for building a combined total of 500 000 vehicles, combining Model S, Model X, and Model 3, each year and make the new target date 2018.

In April, Wheels24 reported that Musk confirmed the Model 3 is headed for South Africa.

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