Elon Musk Confirms Model X Starts Shipping Later This Month

First production cars will be handed over on Sept 29 at our Fremont factory

— Elon Musk (@elonmusk) September 2, 2015

Musk also cleared up pricing concerns, stating the Model X will cost $5,000 more than the Model S with the same options. The Signature Series will start at $132,000, more expensive than the Model S P85D.

Tesla expects a slow ramp in production for the Model X, meaning pre-orders may take more than six months to ship. Once that is over, Tesla will start working on late 2015 and 2016 orders.

On top of the Model X news, Musk also gave a rough idea on when we should see the Model 3 — the smaller and more cost-effective sedan. The rough date is two years away, around fall 2017. Knowing Tesla’s track record for launch dates, early 2018 would be more likely, especially since the Gigafactory has to be completed before the Model 3 can go into full production.

The Gigafactory is Tesla’s own battery factory where it will produce hundreds of thousands of battery units for its Model S, X, 3 and the Powerwall. On the last update, a quarter of the factory was complete.

Musk also added that pre-orders for the Model 3 will start in March 2016. The $35,000 price-tag should remain, making it half the price of the Model S and X. Musk wants production to be sorted before the Model 3 begins sale, to make sure millions of consumers can buy the car without waiting in line for more than a year.

Tesla took a bashing in the stock market a few weeks ago, after the company reported a downgrade in forecast for vehicles sales in the second half of 2015. Musk claims the cars are both backlogged for over a year, but the production line is not ready for that many units.