As on date, Tesla Motors sells Model S and will be launching Model X crossover in 2015. Initially, Tesla wanted to call this 3 Series rival Model E. But as Ford sued them over copyright issues, Tesla decided to use the name Model 3, and it they do use the numeric 3 as shown in the image above, they will still manage to get S E X, as their model line-up.
Elon Musk, CEO of Tesla Motors has confirmed this upcoming Model 3 which will be based on a new platform and not on the cut down version of Model S or Model X. Model 3 concept has been driven by Chris Porritt, VP Vehicle Engineering at Tesla Motors who was earlier Chief Engineer at Aston Martin.
The new Tesla Model 3 will have a range of 200 miles (320 kms) and will possess advanced battery, that will be more efficient than seen on electric cars today. More details of Model 3 will emerge in 2016 with sales slated to start in 2017.
Tesla’s Model 3 is likely to be a game changer for the company due to its affordable pricing. It will still be a premium entry level luxury sedan, but will cost almost half the amount of their Model S base variant, which starts at about $68,070. Tesla aims to sell 35,000 units of Model 3 annually.
— Tesla Motors (@TeslaMotors) July 16, 2014