Tesla CEO Elon Musk has announced that the name of his company’s price-tag friendly sedan will be the Model 3. It will make its debut in 2016 and go on sale in 2017 for $35,000.
It is expected the Model 3 will be built on an all new platform, as opposed to making it a stripped-down version of the company’s Model S or Model X vehicles.
The Model 3 is rumored to be about 20% smaller than the Model S. One of the key features helping to drive the price of the car down is cheaper battery technology, which is expected to be made possible courtesy of Tesla’s forthcoming Gigafactory.
While a location for the factory still has yet to be decided, once everything’s up and running, it will be responsible for the production of batteries for all Tesla models, as well as customers (Mercedes and Nissan are rumored to be in negotiations).
Musk also confirmed that the Model 3 will have a range of over 200 miles, and will operate at a level of performance comparable to the Model S.
Similar to the Model S and Model X, the Model 3 will only be made available vis-à-vis one of the company’s own retailers; that is, you can’t purchase the model through a traditional dealer
Story via autoexpress.co.uk
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