Many people have been drooling over Tesla’s line of high performance electric cars. One thing some people haven’t been excited about, however, is the price tag.
New details have come out about Tesla’s much-anticipated Model 3 car, which is expected to cost about $35,000. For reference, Tesla’s popular Model S sedan sells for $70,000.
The Model 3 car will come in two iterations, the company’s chief technical officer, JB Straubel, unveiled at an energy conference today in Washington, D.C. The line will consist of both a sedan and a crossover vehicle, the Wall Street Journal reports, which Straubel said could catapult Tesla’s sales to 500,000 total vehicles by decade’s end.
Straubel added that the decreasing costs surrounding lithium-ion battery technology in coming years would result in even more lower-priced electric cars from Tesla in the future. He did not, however, elaborate on what future models might look like.
Over the weekend, Tesla CEO Elon Musk teased that the Model 3 would boast a driving range of at least 250 miles. It will go on sale in 2017.
Since its founding in 2003, Tesla has sold 60,000 total vehicles. It vends the Model S and plans to unveil a similarly-priced Model X crossover vehicle at some point in the next four months.
The Model 3 is poised to arrive at the same time that industry leaders like General Motors are expected to release electric models – at which point “we see mass market adoption taking off,” Straubel said.