Tesla to Introduce Smaller and Cheaper Crossover and Sedan by 2017 image

Tesla CEO Elon Musk said that the automaker is developing a small crossover and that it is sharing basic underpinnings with a new compact sedan, which will hit the market by 2017.

Musk said that new models will be smaller and cheaper compared with the $70, 000 Model S sedan, which hit the market last summer, and the Model X crossover expected in 2014. The small sedan, which is known off the record as Gen 3, as it is to be built on the automaker’s third-gen platform, is supposed to rival the BMW 3 Series and the Audi A4. The model’s base price will be $30,000.

The compact crossover might borrow the gull-wing doors from the 2014 Model X, and it will rival the Audi Q3 and the BMW X1 crossovers. Both the crossover and the sedan will be powered by electric motors and lithium-ion batteries, and both will use Tesla’s Supercharger network, which will be expanded in Canada and the US.

Tesla plans by the end of June to have 25 charging stations in Portland, Seattle, Houston, Denver and Chicago, from the current 8. By 2014 the network will have 100 stations. Tesla will begin expanding its network in Europe beginning with 2014.

Source: Reuters