Tesla has confirmed that its new Model 3 electric car will be revealed on the last day of March.
The company wants the Model 3 to be its first mass-market car and will price it at around $35,000. Deliveries of the car are expected to begin in late 2017. Its all-electric driving range will be key to its success, and Tesla says we can expect around 250 miles.
Although the company lost around $880 million last year, Tesla says that it “expects to generate positive net cash flow and achieve non-GAAP profitability for the full-year 2016.”
Tesla is working to get its massive battery plant, the Gigafactory, operational, where batteries for its cars will be produced. The brand is also planning to open 80 retail locations and install 300 new Supercharger locations in 2016.
Renderings seen above show what the new Tesla Model 3 could look like. While photos are coming on March 31, details on the car may not be revealed at that time.