The first 30 production ready versions of the auto were delivered at the event to Musk himself and 29 other Tesla employees.
The Model 3 will be priced at around U.S. $35,000, making it the most affordable offering from Tesla yet.
TeslaCEOElon Musk acknowledged issues with the Model X at the company's shareholder meeting in June.
Musk confirmed that production for the Model 3 is already ramping up at Tesla's Gigafactory in Nevada, US.
Musk aims to make 500,000 vehicles next year, a number that could help Tesla finally make money.
But the handover event came as nearly an anticlimax for Wall Street, and TSLA shares started tumbling after Musk told journalists ahead of the ceremony, "We're going to go through at least six months of manufacturing hell".
One month ago, Tesla announced that its second-quarter deliveries climbed 53% but were at the low end of expectations.
The 3 is the weakest in the looks department, as the high roofline and slab-sided design is a big departure from the Model S' taut, handsome lines. An analyst warned that a wave of optimism toward Tesla could wane once investors begin to judge the company on product demand, growth and profit.
Tesla faces major hurdles living up to the Model 3 hype.
Tesla has said the Model 3 is not meant to be a replacement for the Model S, nor an improvement over it.
Electric cars are seen by many as the cars of the future and Tesla agrees.
"Cannibalization by the Model 3 is clearly a risk - the fact that almost a third of current owners hold reservations raises concerns that the Model 3 may cannibalize sales of higher-end Tesla models upon launch", said Sacconaghi in his note.
The Model 3 has always been part of Palo Alto, California-based Tesla's plans.
Tesla's fans are confident.
Tesla will also be using the Model 3 as an opportunity to scale up its manufacturing.
The company's desire to move beyond its current position as a niche maker of luxury cars largely rests on the Model 3.
Tesla said it is preparing its factory in Fremont, California, to produce 5,000 Model 3 sedans per week sometime before the end of 2017 and 10,000 per week at some point in 2018.
Potential customers also could lose faith if Tesla doesn't meet its aggressive production schedule, or if the cars have quality problems that strain Tesla's small service network.
Human Rights Watch , the worldwide human rights organization, also urged lawmakers to cancel the measure. Article 308 was amended earlier this year, narrowing the cases under which a rapist could benefit.
Apparently, the split has been amicable, as a representative for Casey claimed that the two stars have remained close friends. Casey Affleck and Summer Phoenix at the premiere of The Killer Inside Me " in New York, April 27, 2010.
The lessons took place at Kensington Palace and in some recordings she can be seen performing voice and public speaking exercises. Meanwhile, the controversial tapes somehow ended up in the hands of the princess' former butler, Paul Burrell, after her death.
A body was found Monday morning on the beach at Ocean City , Md., and authorities are investigating, town officials said. A medical evaluation will determine the cause of her death, but Waters said the death appeared to be accidental.
Voting will be held in repeated rounds to reduce the number of bidders to two and a final decision is expected later in the year. Eight are proposed for the european banking Authority (EBA ), the less important, but with close to 200 employees.
One option being considered by the Trump administration is a possible ban on sales of USA crude and refined products. In the United States - which gets 10% of its petrol from Venezuela - this would mean higher fuel costs for drivers.
Last week, the US Senate approved a bill specifying tougher unilateral American sanctions against Russia, Iran and North Korea. Late on July 31, the White House said it was mulling a response to Russia's massive expulsion of diplomats.
The much deeper motive behind Trump's personal involvement is his obsession with killing the Russian Federation scandal. Drafting a statement, he said , is "a communal situation that involved communications people and various lawyers".
He told Wheeler, according to the complaint , that he was working with Zimmerman, who was also investigating the murder. As this is all happening, Wheeler and Butowsky meet with Sean Spicer at the White House to go over Butowsky's claims.
Sales also experienced a 17% increase on a constant currency basis over last year's ¥141.9 billion ($1.29 billion). Net income rose 282.1 percent to 80.9 billion yen ($734 million).
White Sox place Willy Garcia on 7-day DL with concussion
The Sox trailed the Blue Jays 3-0 at the time of the collision, and the bases were loaded when Barney hit James Shields' fastball. Moncada is the prized 22-year-old prospect Chicago acquired from the Red Sox as part of the Chris Sale trade.
Facebook's Negotiation Bots Create Insider Lingo, Learn To Lie
Apparently, the report said, the two artificial intelligences improvised on the #english language so they can communicate better. But since the language used by the bots was indecipherable, it led to the developers at Facebook to shut down the AI system.