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Tesla plan March 2016 unveiling of Model 3 electric car

Tesla Motors has announced plans to unveil the Model 3 in March 2016. It will be the third step in Tesla’s plan to bring electric cars into the mainstream. Tesla’s CEO Elon Musk is pushing for a $35,000 (£23,000) price point, to interest middle class customers.

The Model 3 has been conceptualised for quite a few years by Musk as the final step for Tesla. The Model S was to spice up the high-end, the Model X looks to be the people carrier for the family and the Model 3 is for everyone else.

It has been in the works for a few years, but the real pains have been getting the price point down to affordable levels while maintaining the same level of style, comfort and tech present in the Model S.

Musk said while plans to show the Model 3 are not set in stone, the team is working towards March 2016. It would not be the first time Tesla has had to delay its product, the Model X was originally meant to be launched last year.

Production of the Model 3 will start in mid to late 2017 and is expected to be available worldwide, although Tesla is bound to run into supply issues in the first few months. Whether it can get past these supply issues may define whether the Model 3 is successful.

The Model X will come first and we suspect the first orders will be shipped by mid 2015. Tesla did not update the timeline for the Model X, hopefully meaning there is no further delays to the people carrier.

Tesla has entered the battery business in the past few weeks (opens in new tab), launching the Powerwall and Powerpack. The Powerwall is a £2000 home battery system capable of taking solar or wind energy and storing it - the Powerpack is the utility version of this for businesses (opens in new tab).

The Powerwall is already sold out until 2016 (opens in new tab), showing the huge demand for the battery system.

David has been a technology journalist for over six years, covering a wide range of sectors. He currently researches apps, app sectors and app markets for Business of Apps, and has written for ITProPortal, RTInsights, ReadWrite, and Digital Trends.