It was not a secret that Tesla wants to challenge the BMW 3-Series as the company revealed the fact that it originally intended to call the car the “Model E”. Still, Tesla’s plans were changed by Ford after the manufacturer claimed rights to the name. As a result, Tesla’s new model will be called Model 3.
According to Tesla, the new Model 3 will have three bars to represent it so instead of having a lineup named S E X, the company will have to use S III X. Set to be unveiled in 2016, the new Tesla Model 3 will go on sale by 2017 and will use an all-new platform, not a cut-down version of the current one used by Model S and Model X.
Elon Musk said that the new car should cost around $35,000 and the key to it is the new battery technology made possible by Tesla’s upcoming Gigafactory. The new plant will produce batteries for all Tesla models but also for competitors such as Mercedes-Benz and Nissan.
Comparing it with the Model S, the new Tesla Model 3 will have a smaller range, over 200 miles (320 km) but will show strong performances. In addition, Elon Musk announced that he company is planning to offer an upgrade for Tesla Roadster owners that will increase the range to about 400 miles or 643 km.