Elon Musk Has Good News For Tesla Fans

Tesla CEO gives new details on Model X, timeline for more affordable Model 3.

Elon Musk, CEO of Tesla, revealed the electric car company will show off the look of its lower cost Model 3 in March and will begin taking pre-orders around that time.

The smaller sedan is expected to cost around $35,000 and will begin production in 2017.

Next up for Tesla though will be executing the deliveries of its sporty Model X vehicle -- the company's third car. Musk said on Twitter deliveries will begin on September 29 from Tesla's Fremont, California factory.

The signature series Model X will cost in the low six-figure range for customers seeking a fully loaded, top of the line experience.