Tesla to release $35,000 Model 3

By Allison Rubenstein,

Electric car company Tesla Motors will be releasing a new vehicle called the Tesla Model 3.

The Model 3 is expected to sell for about $35,000—less than half the price of Tesla’s prior vehicle, Model S, according to NBC News. It will be smaller than the Model S and consist of cheaper battery technology.

Moreover, the Model 3 will have a range of over 200 miles, Tesla founder and CEO Elon Musk told Auto Express. “We want people to fall in love with their car and look forward to driving it,” Musk said.

Musk is also working on a battery upgrade for owners of the Roadster—Tesla’s first vehicle. The improved battery pack “should have a range of about 400 miles, which will allow you to drive from LA to San Francisco non-stop,” said Musk.

This Model 3, which will be revealed in 2016 and on the market by 2017, will compete with the BMW 3-Series and the Mercedes-Benz C-Class Sedans.



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