Elon Musk says Tesla Model 3 will be coming in 2017 for $US35,000

TESLA’S electric car for everyone, the Model 3 now has an estimated release date and pricing thanks to a few Elon Musk tweets.

A Model S P85D electric vehicle (EV) sits next to a charging station displayed at the Tesla Motors Inc. retail store in San Jose, California, U.S., on Thursday, Aug. 20, 2015. Tesla Motors Inc. has launched a wholesale revamp of its stores worldwide as the electric-car company prepares to debut the Model X, its first sport-utility vehicle. Photographer: Michael Short/Bloomberg

TESLA’S entry level car, the much talked about Model 3 will be available in 2017 for $US35,000 ($49,900) according to CEO Elon Musk.

Musk reconfirmed the price and estimated that production for the smaller, lower cost sedan will begin “in about 2 years”, citing the need for a fully operational battery factory, or Gigafactory as Tesla calls them, as the delay. He also said that the car will officially be unveiled in March and preorders will begin then, too.

The Model 3 will be Tesla’s first entry into the mainstream market. Elon Musk has promised it will have a minimum of 320km electric range, but it’s expected to come in several different variations with more range and power, like the current Model S.

Size wise, Tesla’s cheaper car is expected to have a similar footprint to that of a BMW 3 series, which will be one of the car’s main rivals in the market.

Analysts are pinning the Model 3 as the biggest deal in motoring in decades and is expected to be the first electric vehicle that the mainstream car buying market will adopt en masse.

Tesla’s Model X SUV will be targeting BMW, Audi and Porsche SUV buyers.

Before that, Tesla’s next car, the Model X SUV will be delivered to its first customers in the next few weeks in the USA, where it’s expected to shake up yet another car market. The Model X will be the fastest SUV on the market, reaching 0-100km/h in less than 3.5 seconds with the optional ludicrous package installed, all while carrying seven people. It’s not going to be cheap though, with the SUV expected to cost nearly $200,000 in Australia when it launches locally next year.