Tesla plans $40,000 electric car; may hit the market in 2015 image

Tesla Motors, the maker of all-electric Model S model plans to unveil a new all-electric vehicle that could sell in the $40,000 range, LA Times reports. The new vehicle is expected to have a 200 miles driving range.

At this moment Tesla sells only the Model S model – a luxury electric vehicle that starts at $71,070 before any state or federal tax incentives – and get go over $100,000 with optionals. In addition the U.S. based automaker plans to unveil the Model X model – a vehicle that is expected to costs about the same.

According to Tesla Motors Club – there are already more than 10,000 reservations for the upcoming Model X. Model S demand in US estimated at 15,000 units a year – and global demand at 40,000 units a year.


The third model in Tesla’s line-up could make US debut during the 2015 NAIAS Motor Show in Detroit – Tesla announced last week.

“This is ultimately the car that will make Tesla a household brand rather than just something in the premium segments. No car company can live off 20,000 to 30,000 sales a year and be profitable in the long term.”

At this moment the Palo Alto automaker plans to sell about 500,000 per year by 2020.