Tesla is considering derivative models based on its upcoming compact sedan in a strategy that could help it entice more customers.
Currently the Model III is expected to arrive sometime in 2017 following the next year’s arrival of the Model X crossover based on the Model S sedan. Tesla engineering boss Chris Porritt told Auto Express that the company wants the Model III to appeal to a wide range of customers and that it is entertaining the idea of an SUV or wagon.
Tesla is currently building its $5 billion “Gigafactory” battery facility that will produce batteries for its vehicles. The facility is meant to help the company reduce its battery costs and enable it to offer a higher volume of vehicles than it currently does. CEO Elon Musk said the company is aiming to product roughly 35,000 vehicles this year although deliveries of the Model S through the second quarter were only 14,036 according to the company’s quarterly report. The next major indicator for how the company is tracking toward its goal will arrive next week on Wednesday, November 5 when it announces third quarter results.