Tesla to unwrap $35,000 Model 3 on March 31: Fortune

PanARMENIAN.Net - Tesla’s newest vehicle will finally be shown to the public at the end of this month, according to reports from the Tesla Motors Club website. The invitations making the rounds only specify that the event will take place “in Southern California,” Fortune reports.

The Model 3 price is starting at just $35,000 (before any tax incentives.

The transition to the mass market is key to Tesla TSLA 2.18% living up to its stock’s currently huge premium against earnings. It’s also the main driver for Tesla’s massive Nevada gigafactory, which will start pumping out batteries in 2017.

The Model 3’s range is expected to be slightly lower than other models—200 miles or so, instead of 220-300 for the X and S. Though it will initially be a sedan, the Model 3 will eventually be available as a crossover, or light SUV.

Tesla will start accepting $1,000 deposits on the Model 3 at Tesla stores on March 31. Online reservations through the company’s website will start April 1. Cars themselves are expected to ship in late 2017.