Report: Tesla’s new Model 3 should arrive later this month on March 31 and cost around $35k

Tesla’s highly anticipated Model 3 sedan, the new entry-level all-electric luxury sports four-door designed to be an EV competitor to the BMW 3-Series has the world extremely excited since Tesla already proved what they’re capable of with the Model S sedan.

Since the Model S’s introduction, there’s been a lot of clamoring from both critics and customers for a more affordable and smaller packaged version of the Model S. And of course, Elon Musk answered the calls in addition to understanding that an entry-level version of its Model S in the form of a BMW 3-Series competitor is simply just a smart idea. It is one of the most competitive segments in the market.

The latest update now for the Model 3 comes from a source in the Tesla Motors Club enthusiast forums, originally discovered by Fortune. Word is the new Model 3 is scheduled to debut on March 31 with an MSRP around $35,000.

From what we know, the Model 3 should essentially be a bite-sized Model S with a range of around 250 miles per charge. Of course, being a Tesla EV, you can also expect the motors to offer a good amount of power for performance.

Should you be eying a Model 3 for yourself, orders are said to begin sometime in April with deliveries speculated to begin sometime in late 2017.

– By: Chris Chin

Source: Tesla Motors Club via Fortune


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