If you visit the Tesla Motors site now, you will notice that at the top are the Model S and Model X models, but nothing about the Model 3. The Model 3 is expected to be a very low-priced all-electric car, and in spite of it being announced on Twitter over a year ago, there hasn't been a lot of information given about it. However, this is going to change as a recent mention in a report from Elon Musk's company saying that the Tesla Model 3 will be revealed early in 2016, with a release date that could follow years afterward.
According to Ubergizmo, the Tesla Model 3 is apparently "on track" for an unveiling that will be next year in late winter/early spring. This statement comes from its third quarter 2015 shareholder letter released yesterday, as reported by The Verge, who estimated that commercial availability of the Model 3 would likely come in 2017. Apparently, the Tesla unveiling does not mean that the cars will be readily available, as most sources, including Tech Times, seem to point out that there will be a long delay with this initial unveiling and when the car will be available to drive off the lot.
Additional details about the Model 3 have been reported in the Latinos Health, which says that the Model 3 will be available as a crossover and sedan, as well as a single motor with good traction control. Autocar reports that the details of the Tesla Model 3 have yet to be revealed, but sources have indicated a performance of up to 62 mph to rival that of the BMW M3, which currently has a 0-62 mph time of 4.1 seconds. Right now, the Tesla Model S P85 D can achieve 0-60 mph in 2.8 seconds, or at least that was what it was reported two months ago.
According to Autos Concept, the Tesla Model 3 will have "littler measurement" when compared with the Model S. It is expected that it will probably go around 200 miles on a solitary charge, but the issue is that the Model S is expected to have improvements that could bring it up to 300 or 400 miles.
For the longer range, consumers will opt for the Model S, but the price is very high at over $60,000. What is going to make the Tesla Model 3 so worth it to the typical consumer is that it is priced at $30,000-$35,000, which is a bit more affordable for half of the price of the S.
It is reported that Tesla wants to produce the Model 3 at 500,000 units per year, but it needs to build the Gigifactory, a $5 billion factory that can produce the lithium-ion battery packs and cut costs by 30 percent.
It is apparent that what Tesla does with the Model 3 provides the typical consumer an all-electric car, so drivers can realize that they can save a lot of money by turning off fossil fuels. It is something that could cause a revolution, but it is a big risk from Elon Musk and Tesla if it doesn't pay off.
On related note, Tesla's earnings call is at 5:30 PM Eastern today, and Elon Musk is expected to speak. He will probably reiterate the release of the 2016 Tesla 3 in March 2016.