Tesla Motors' more affordable Model 3 will provide at least 215 miles of electric range when it arrives in late 2017, CEO Elon Musk told an audience who gathered in Hawthorne, Calif., for the car's unveiling.
The base Model 3 will retail for $35,000 and will include Autopilot mode as a standard feature. It will have a front and rear trunk. So far, 115,000 people have put down a $1,000 deposit toward the purchase of a Model 3, Musk said at the March 31 event that was broadcast live over the internet.
Musk reiterated his goal to produce 500,000 vehicles in a year, and said sales of the Model S and Model X have funded the development of the higher-volume, more affordable Model 3. Musk said the Gigafactory that will produce the lithium-ion battery packs to enable the production goal is now operational.
The company's vehicles play one part in reducing carbon-dioxide emissions and reducing global warming, he said at the start of the unveiling.
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