Tesla has confirmed that it will unveil its Model 3 on 31st March 31 and is scheduled for production and delivery in 2017.
Model 3 will be s priced at $35,000.
Tesla CEO, Elon Musk in one of his tweets back in Sep, 2015 revealed that the next model will be priced at $35,000, the car will be unveiled in March and preorders will start then.
Tesla Motors CEO, ELon Musk said in a news conference: "When I say $35,000, I'm talking about without any credits."
The company believes that the price will come down further thanks to with $7,500 incentive offered for electric vehicles.
In November, 2014, Musk told his investors that Model 3 will be slightly smaller than Model S, 20% to be exact and to maintain the internal space, Tesla will stick to sub-floor batteries.
Tesla Motors wants to bring a cheaper electric vehicle to the masses, which has a minimum range of 200 miles or more.
According to Tesla Motors, with incentives and EV chargers coming up across the nation, it would encourage more people opt for electric vehicles in the coming years.
Talking about the range of Model 3, Musk said in an interview with Transport Evolved: "200 miles is a minimum threshold for an electric car."
"We need 200-plus miles in real world. Not 200 miles in 'AC off, driving on flat road' mode.
"Anything below 200 miles isn't passing grade. Most people are looking for 20 percent more than that."
