Mystery No More: Tesla's Model X Unveiled

— -- Tesla's Model X is no longer a mystery.

Elon Musk, Tesla CEO, officially handed over the first long-awaited sporty electric vehicle Tuesday at an event near the automotive company's factory in Fremont, California.

The crossover vehicle is Tesla's third model and will join the Model S on the market. The signature series Model X will cost in the low six-figure range for customers seeking a fully loaded, top-of-the-line experience.

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 tax incentives that could be used at the federal and state level for electric vehicles.

The Model X is said to be able to seat seven people in three rows of seats, with the car having wing-like doors instead of opening from the sides. It's unclear what the final pricing will be for the vehicle, which was first announced in 2012, but it hasn't stopped Tesla devotees from putting down a deposit to reserve their Model X.

Getting the delayed Model X to customers will help Tesla clear the way for its next project -- the lower cost Model 3. Musk revealed the electric car company will show off the look of the vehicle 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.