Another, possibly game-changing vehicle from prominent electric car manufacturer Tesla Motors is coming, and it might very well be the company's golden goose. The company's newest vehicle, the Model 3, is set to be unveiled to the public on March 31. If the car gets well-received by the public, Tesla might very well have another runaway hit on hand.
The key to the Model 3 is quite simple. Tesla has made a name for itself by manufacturing premium electric vehicles at equally premium prices, targeting consumers who belong to a higher income bracket. This has proven true on the company's two vehicles, the iconic Model S and the its first SUV, the Model X, which was released last year.
With the Model 3, however, Tesla is attempting to breach a completely different market. Starting at just $35,000 and featuring the same technology as its far more expensive siblings, the Model 3 might very well be the company's go-to vehicle for the average car buyer.
After all, even the car's starting price might still get lowered if tax incentives come into play.
Of course, if Tesla does manage to pull this feat off, it might end up becoming the Apple of electric cars. Just about a decade ago, Apple was nowhere near the world's list of top mobile phone manufacturers. With just one innovation in the form of the first iPhone, however, the company was able to push itself significantly, becoming a household name for smartphones.
Then again, the Model 3 is one car that is extremely important for Tesla. After all, the car plays a significant role in the operations of Tesla's so-called gigafactory in Nevada, which is set to manufacture batteries for the company's line of products. If the Model 3 fails to be a hit with consumers, the company's $5 billion investment in the Nevada site might very well be a waste.
While the company has been very secretive about the design and specifications of the Model 3, the rumors that have emerged concerning the vehicle have been very encouraging. The car has a rumored mileage of 200 miles per charge, lower than the 220-300 miles that the Model S and X are expected to have. Apart from this, a crossover SUV version of the Model 3 would also be released, provided that the sedan version becomes successful.
The company has stated that it would start accepting $1,000 deposits for the Model 3 on March 31, with the vehicles expected to ship late 2017.