Report – Tesla to announce its $35,000 Model 3 will become official on March 31 image

Apparently the California-based US electric automaker will finally reveal the much-hyped Model 3 during a special event taking place on March 31 in Southern California.

The anticipated Model 3 is rumored to actually make up an entire line of models – including sedan and SUV – but we’ll just have to wait till the end of the month to see what the youngest publicly traded US carmaker has in store for us. The date has been tipped via a post on the Tesla Motors Club forums and is actually a confirmation of the automaker’s plans to finally introduce its fourth model (the Roadster has ceased production, followed by the Model S sedan and Model X crossover) on March 31. We have no other details concerning the world premiere of the Model 3, save for the location – Tesla’s home area of Southern California. On that exact same day the carmaker will also allow $1,000 deposits on the Model 3 and perhaps the orders and reservations will kick off during the launch event itself. The online orders through the company’s Tesla.com website will be allowed starting April 1 and deliveries are expected to started sometimes late next year.

According to the rumors flying across the mill the base Model 3 should come with a starting price of $35,000 before any tax incentives. It is also expected to pack a smaller battery pack than the Model S and the tipped range is of about 250 miles (420 kilometers), with initial sales of the sedan, followed later on by the possible crossover version.

Via Tesla Motors Club via Fortune