Tesla’s Model S sedan is the poster child for the growing electric vehicle market, but with a price tag in the $70,000 range, it’s far out of reach for most buyers even as a pre-owned vehicle. Tesla has already announced plans to introduce a new, more attainable model called the Model 3 and now Tesla has confirmed that it will reveal the model in March 2016.

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Elon Musk announced this week during a call with Tesla’s investors that the Model 3 will be revealed next March. He added that production will kick off in late 2017. In the past Tesla has pushed back the launch date of the Model S and even the Model X crossover, so there is a chance that the Model 3 could be delayed until 2018 if that trend continues. When it does arrive, the Model 3 is promised to have a driving range of around 200 miles on a single charge and it’s expected to have a price tag around $35,000. In terms of size, the Model 3 will be about 20 percent smaller than the Model S.

Related: Tesla launches new base Model S 70D to appeal to mainstream luxury car buyers

The Model X crossover is expected to arrive soon and Musk also revealed that Tesla will start taking online customization orders in July. “This is really a great car. I mean, because it has such a low center of mass, it handles like a sports car even though it’s an SUV,” Musk stated.

+ Tesla Motors

Via The Verge

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