Tesla's shares have risen after Elon Musk revealed the delivery date for its first Model 3

 
Emma Haslett
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The five-door sedan is Tesla's first mass market car

Shares in Tesla rose more than two per cent in pre-market trading after Elon Musk, its founder, revealed the first Model 3s will be delivered at the end of this month.

In a post on Twitter (where else?), Musk said the Model 3, its first mass market car, had passed regulatory requirements for production two weeks ahead of schedule, meaning the first 30 cars will be delivered on 28 July.

Shares rose were 2.2 per cent higher, at $369.70, in pre-market trading in New York.

Musk suggested the first 100 cars will be produced in August, topping 1,500 by September and 20,000 per month in December.

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"Incredible" interest

The Model 3 was first unveiled last March, with pre-orders topping $14bn (£9.9bn) in the week after it was announced.

The five-door sedan is Tesla's first mass market car, at an average price of $42,000 (£29,500).

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