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Musk: Tesla Model 3 to be unveiled in March

by Byron Hurd

Announcement corroborates Geneva rumors.

Tesla CEO Elon Musk confirmed today via twitter that the EV maker's new entry-level model will be unveiled in March, giving credibility to previous rumors that it would debut at the 2016 Geneva International Motor Show.

It should go intro production in roughly two years, and will require the resources of Tesla's new gigafactory in order to do so. Preorders will be available after the vehicle is formally announced next Spring.

The new, mass-market Tesla EV will have at least 250 miles of all-electric range, and Musk's tweet today reaffirmed the company's previous price target of $35,000, viewed as the maximum for its first high-volume model.

"There is no agenda to sell to wealthy customers only," he said previously.

Few additional details surrounding the Model 3 have been disclosed, but Musk has cautioned that its mass-market sedan won't initially go "super crazy" with special features like the Model S and the upcoming Model X crossover. He suggested that some "adventurous" upgrades will be available further down the road, presumably for later range-toppers to follow the initial launch.

In the same series of tweets, Musk also confirmed that the Model X is rough $5,000 more expensive than the Model S at each comparable equipment level.

We know that Tesla is working on a CUV based on the Model 3. Designed to slot beneath its upcoming, full-size Model X, Tesla's new small CUV will likely follow a pricing structure similar to that of the Model X, leading us to believe it will be marginally more expensive on a trim-for-trim basis than the sedan.

Photo by Ronan Glon.

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