Report – Tesla’s Model 3 is an entire project, with multiple versions image

According to a recent report coming from the Wall Street Journal, the California-based Tesla Motors, the youngest publicly traded US automaker, is treating its upcoming Model 3 not as a single model, but as a whole project.

The company currently has just one vehicle in its showrooms – the electric luxury sedan Model S – and the second one, a crossover called Model X is expected to reach its first clients later on this fall. From then, the company plans to expand rapidly, using its battery “Gigafactory” currently under construction in Nevada and the Model 3 vehicle from 2017. Now the Journal is reporting the Model 3 – envisioned as an affordable electric vehicle – will not only be created as a sedan, but also as a crossover. The report further stated the carmaker was also now considering new models beyond the Model 3 line-up, as it envisions the costs of battery technology to rapidly descend in upcoming years – leading to cheap electric cars. The smaller Model 3 will be based on the third generation of Tesla vehicles – following the Roadster (the Lotus-based fully electric sports car) and the two models built under the same architecture – the 2012 released Model S and this year’s Model X sport utility vehicle.

The introductory price for the upcoming Model 3 is envisioned at $35,000, around half the price of Tesla’s Model S, with the former also expected to deliver good range of at least 200 miles on a full charge. JB Straubel, Tesla’s chief technical officer, speaking at the EIA Energy Conference has said the Model 3 should assist the company is reaching sales of half a million units per year by 2020.

Via Reuters