Elon Musk Has Good News For Tesla Fans
Tesla CEO gives new details on Model X, timeline for more affordable Model 3.
— -- It's a dream come true for Tesla admirers.
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.
"Demand would be much higher for a vehicle like that because of its price. It puts Tesla right in the meat of the market," Karl Brauer, a senior analyst at Kelley Blue Book, told ABC News in May after Musk announced the project.
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.
With the same options as a Model S, the new car will cost $5,000 more because of its size and body complexity, Musk tweeted. The base Model S starts at $70,000, not including any incentives that could be used at the federal and state level for electric vehicles.
The signature series Model X will cost in the low six-figure range for customers seeking a fully loaded, top of the line experience.