Tesla Model 3, Model Y Release Date, Specs and Rumors: Tesla Might Launch Two Brand-New Cars In March

Jan 29, 2016 01:43 PM EST

Electrek's Seth Weintraub reported  that Tesla Motors is set to debut a second car at the Model 3 event in March 2016. The website also published a photo from a recent Tesla presentation in Hong Kong that shows two cars that are under wraps, hinting that there might be two brand-new cars in the much-anticipated March event. 

Now, we'll give you the latest round up of news about the next Tesla cars.

According to Electrek website, Tesla's presentation in Hong Kong revealed a sedan and a crossover vehicle. The Model 3 is expected to come as a traditional sedan, while the second car will apparently be a crossover.  That information lines up nicely to the reports that published last year.  Tesla CTO JB Straubel teased a crossover version of the Model 3 June last year, and Elon Musk posted on social media last October that the Model 3's companion would be known as the Model Y.

The Verge published that Model 3 will be priced around $35,000, and should have a range of at least 200 miles.

However, in an emailed statement published in Ars Technica, Tesla company said "Electrek is wrong. Unfortunately they failed to check with us before publishing."

The Models 3 boasts a lighter and more aero efficient bodyshell. Moreover, the new car is rumoured to be about 20% smaller than the Model S. On full charge, the  car has a theoretical range of 423 miles.

According to design chief Franz von Holzhausen, expect the Model 3 will be an BMW 3-series, Audi A4, Mercedes-Benz C-Class type of vehicle. The car will also have powerful engine and reliable road performance with a starting price of US$30,000 that is targeted toward the mass-market.

"The new model is going to be called Model 3, we'll have three bars to represent it and it'll be S III X," Tesla CEO Elon Musk told in Auto Express. The new car is the brainchild of Tesla's British engineering chief Chris Porritt, who used to work with Aston Martin.  

Meanwhile, Tesla's forthcoming Gigafactory will develop new batteries for the upcoming new car models. The company also plans to make a stationary storage program to store energy from solar and wind farms.

As of now, details about Tesla's car models are still scarce. We will know the rest of its specifications in March. Stay tuned with Gospel Herald for more updates.