Tesla to Debut $35,000 Model 3 Electric Vehicle in March

By Paul Riegler on 13 February 2016
  • Share
A Tesla Model S

A Tesla Model S

Tesla Motors announced that it would unveil its new Model 3 electric vehicle on March 31. The news was disclosed earlier in the week in the company’s earnings release letter.

The entry-level vehicle will retail for $35,000 before a federal and state tax credits for electric vehicles, which could range from $7,500 to $13,000.

Details are few and far between and no one knows for sure how much Tesla will share on the 31st. The company has said it will begin to take reservations for the Model 3 that day and accept $1,000 deposits.

The Model 3 is expected to be roughly the size of a BMW 3 Series and have a range of 200 miles (322 kilometers) on a full charge. Its range and price serve notice it will compete with the Nissan Leaf and Chevrolet Bolt.

Tesla will continue to offer its four-year-old Model S sedan as well as its new Model X SUV.

(Photo: Accura Media Group)