Tesla CEO and founder Elon Musk has revealed its Model 3 electric car could be unveiled as early as May next year, with a launch due in 2017. Speaking during the Tesla Earnings conference call he said, “don’t hold me to that month, but that’s, like — that’s our aspiration”.
Anticipation around the company’s new car is particularly high because it is likely to be one of the most affordable luxury electric cars when launched, priced at around £22,700 – putting it in competition with petrol driven cars like the Seat Leon, Audi A3, Ford Fiesta or Volkswagen Golf.
With a range of around 300 miles on a single charge that could be a limiting factor for uptake in the US and mainland Europe but not so much in the UK where journeys tend to be shorter. Musk has confirmed features which will be included in the vehicle include a large touchscreen display and a raft of driver-assist features.
However, don’t get too excited about the launch of the Model 3 just yet. Tesla has a reputation for missing its release windows with the Model X only just coming to market now, two years after its intended release date. Nevertheless, with the Tesla share price having taken a bit of a kicking since reaching highs during 2014, Musk is doubtless keen to demonstrate to the market that the company can produce vehicles that reach a genuinely mainstream audience.
Meanwhile, Tesla continues work on its long awaited Model X. This highly anticipated SUV has been in the pipeline for quite some time, but there are recent concerns that the vehicle has run into yet another delay.