Telsa CEO Elon Musk has announced plans to reveal its highly-anticipated Model 3 electric car early next year.
The Model 3 is perhaps Tesla’s most significant motor yet as it brings electric cars into the realms of affordability. The car which is set to rival BMW’s 3-series, has a rumoured price tag of around $35,000 (about £22k).
During the company’s earnings call the entrepreneur said: “
That purported pricetag is around half the price of the Tesla Model S, which starts at $70,000, while the Model X SUV is expected to cost around the same when it arrives later this year.
The Model 3, which can run for 200 miles on a single charge and is 20 per cent smaller than the Model S, will be attainable for a more mainstream audience seeking to lower their carbon footprint.
However, it’s still going to be a while before drivers will be able to obtain the Model 3, with Musk claiming production will begin at the end of 2017.
Read more: What is Tesla Powerwall
Elsewhere during the earnings call, Musk revealed the company had taken a whopping 38,000 pre-orders for the Powerwall home battery solution, announced last week.
“The response has been overwhelming. Like, crazy,” he said.
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.