Tesla is set to release a car for a price the masses might actually afford

Tesla‘s CEO says the first Model 3 electric car for the masses should come off the assembly line Friday, with the first deliveries in late July.

Elon Musk says on Twitter that the new car passed all regulatory requirements for production to begin two weeks ahead of schedule.

Coverage of Tesla on Globalnews.ca:

3:53 Tesla’s new Model 3

• Tesla’s new Model 3
• Tesla hopes reservations for new Model 3 a sign of what’s to come
• Tesla hopes reservations for new Model 3 a sign of what’s to come
• Tesla lovers line up to reserve new Model 3

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The company plans to hold a party to hand over the first 30 Model 3s to customers on July 28.

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The Model 3 is to start around $35,000. With a $7,500 federal tax credit, it could cost $27,500. Tesla says the car can go 215 miles on a single charge and from zero to 60 in under six seconds. The car is Tesla’s first attempt at true mass production.

READ MORE: All Tesla cars will now have self-driving hardware

The company has had trouble hitting production deadlines on previous cars.