New Tesla Model 3 will cost less than £25,000

Tesla’s CEO, Elon Musk, has revealed that 2016 will bring a new, affordable Tesla model to the fore – costing just $35,000, which works out at around £22,000.

When compared to Tesla’s current flagship car, the Model S, which starts at over £50,000, the Model 3 makes for a considerably cheaper alternative. 

Set to be revealed in March 2016, with first customer deliveries expected in early 2017, Musk also announced that the new Model 3 will boast an even greater range than first expected. Initially, reports said that the Model 3 would achieve a range of 200 miles, but Musk has revealed that it could now be as much as 250 miles – just three miles shy of the current range of the Model S.

This means car buyers could have the opportunity to purchase a much more affordable Tesla with an impressive range to match. Also, with Tesla’s network of superchargers constantly expanding, electric charging is now more available than ever before.

Although the name ‘Model 3’ sounds like a single addition to the Tesla line-up, there are rumours that the Model 3 name could actually refer to a whole new breed of Tesla vehicles, giving birth to what could be a fleet of affordable Teslas.