The production of much-awaited Tesla Model 3 car will begin next year. Even though the car's actual release date is still months away, over 400,000 people have pre-ordered their own unit. Reports say Tesla is ramping up its efforts to launch the car on time. Now, here's the latest round-up of update about Tesla Model 3 pre-orders, specs and price.

We previously reported Tesla received more than 400,000 pre-orders for Model 3, up from 325,000 reservations earlier this month. With that huge demand, there have been concerns that Tesla can't meet its target deadline.

To address the issue, the company is opening a new factory for the Model 3, according to Tesla Motors' president of global sales Jon McNeill in an interview with CCTV News. Currently, the company has production plant in California that can make 600,000 cars a year.

Tesla decided to open a new factory to ensure that Model 3 becomes available on time, which is the company's main priority. The new production plant could be built in China.

Furthermore, Tesla CEO Elon Musk is confident that the production of Model 3 will start next year, as per reports from Tech Insider.

For interested buyers, Tesla is now taking pre-orders for Model 3 for around $1,440. Visit this link for more information about Model 3 reservation. The car manufacturer has not yet disclosed the full price of the car, but estimates show it could become available for around $35,000.

Musk gave some information on what to expect for Model 3. The Tesla CEO said the car would offer a minimum range of 215 miles on a single charge. The electric car is powered by advanced lithium ion batteries and all-electric powertrain.

Performance wise, its rear-wheel drive model can run from 0-62mph in less than six seconds, while the dual-motor all-wheel-drive model can charge from 0-62mph in around four and a half seconds.

Outside, Model 3 sports minimalist yet elegant design. It has compact form and aerodynamic features. Inside, the driver will be welcomed by futuristic interior design. Musk also teased fans that the car's interior will have spaceship-like features, and a new Tesla hire suggests it could offer HUD focused interface.The company hired someone called Milan Kovac, a principal engineer at Skully Systems, developer of a cool motorcycle helmet with a built-in HUD.

Alphr also reported Tesla could sell the electric car with Autopilot hardware.

For more information about Model 3 concept, pre-orders and specs, visit the nearest Tesla store near you.