Tesla is working on a new smaller electric sedan that will cost about half the price of the current Model S sedan, which starts at $62,400.
Tesla is working on a new smaller electric sedan that will cost about half the price of the current Model S sedan, which starts at $62,400. CEO Elon Musk has revealed the smaller sedan will arrive in late 2016 and will have a driving range of at least 200 miles.
At Tesla’s annual shareholders meeting in Mountain View, CA, Musk stated that the new “Gen III” sedan will have a family resemblance to Tesla’s current lineup and will have a starting price that is closer to other electric vehicles like the Nissan Leaf. Musk also stated that the new sedan may even have some autopilot or self-driving technologies.
“A significant improvement in technology is needed to have a compelling affordable electric car. To be compelling, it must have a useful range of 200 miles,” Musk stated.
The new smaller Tesla sedan will be the fourth Tesla model after the arrival of the upcoming Model X crossover.