Tesla announces the Model 3, set to retail in 2017 for $35,000
Tesla is going after BMW with its latest car announcement. Dubbed the Model 3, the electric car will be 20 percent smaller than the Model S and offer a range of 200 miles, with sales set to start from 2017.
The $35,000 price point makes the Model 3 much more accessible to the general public than the $80,000 Model S. Tesla Motors CEO Elon Musk said during an interview with Auto Express that the reason behind choosing the Model 3 name was to avoid limitation with Ford, which threatened to sue Tesla after it was revealed that the electric car manufacturer was considering naming its car the Model E.
A key in bringing the cost of the car down is more affordable batteries that will be built at Tesla's upcoming Gigafactory. There isn't any indication as to how the Model 3 will look, with the car manufacturer stating that the car will be officially unveiled sometime in 2016.
Excited about Tesla's upcoming Model 3? Will the low pricing convince you to go electric?
Source: Twitter (Tesla Motors)