Tesla Motors Inc. has announced plans to introduce a new model of electric car called the Model S, one of the most affordable electric cars ever.
The Model S is a compact sedan that’s expected to offer up to 80 miles of range and cost $70,000.
That price tag could be an important selling point to prospective buyers who want a smaller vehicle that offers an upscale experience, like a sports car.
The new Model S has a battery pack that’s designed to provide 80 miles, but the car also boasts a range of over 200 miles.
This means that a Model S can easily be upgraded to get to 300 miles of maximum range.
While this is a huge upgrade for the company, the Model 3 is expected to be Tesla Motors’ most affordable model.
That car will go on sale in 2018.
The first Tesla Model 3 will be available for purchase in late 2019.
While Tesla has already made some bold promises about the Model3, the company’s announcement is only the first step in the company going big with a car.
In fact, Tesla CEO Elon Musk hinted at a bigger plan for the Model line.
Speaking at the company board of directors meeting on Thursday, Musk said that the company would “be making more cars, starting with a new generation of cars, and we will do it in a more aggressive way than ever before.”
The new electric car will be unveiled sometime in 2019, but Musk has hinted at plans to make the first Model 3s available later in 2020.
The company is planning on building a factory in Nevada, and Musk has already stated that the new factory will be able to build 200,000 cars a year.
Tesla currently sells about 100,000 Model 3 vehicles a year, but it plans to add another 400,000 vehicles this year.
While Musk has been coy about the new car’s price tag, he also told Bloomberg that Tesla is aiming for “tens of thousands of cars per year” by 2020.
If the Model III is successful, Tesla may be able get the company off of its current dependence on fossil fuels.
The Model 3 could be the first vehicle in the Model family that uses electric propulsion, which could dramatically reduce the company a step further from the Model 1 that was launched in 2014.