Tesla’s Model 3 to be unveiled in March 2016

Tesla‘s long-awaited Model 3 is on track to be unveiled in March 2016, the company said in its third quarter 2015 shareholder letter.

The Model 3 is the Elon Musk-run electrical car manufacturer’s mass market follow-up to the its upmarket Version S car as well as Version X crossover.

The Model 3, priced at $35,000, is the automobile that is anticipated to help Tesla towards selling 500,000 vehicles a year by 2020.

The company’s work with the awarding-winning S and X automobiles are simply a method to put Tesla in a placement to make and offer the Model 3.

” The S and also X function as the earnings structure for the Model 3,” Odor informed Business Insider previously this year at the release of the Model X.

Today’s news for the Model 3 straightens with a discussion offered by Tesla CTO JB Straubel in June, which showed that the Model 3 would certainly be unveiled in the very first quarter of 2016, with preliminary production beginning in 2017 and also complete production showing up in 2018.