Tesla Announces New Model for 2017

The rumors have been swirling around for some time, but now it seems like Tesla will finally make a car that is affordable for most people. The electric car company announced recently that its next model, which will be called the Model 3, will cost somewhere around $35,000. If that sounds like a lot of money, you need to walk through a car lot and see what vehicles sell for these days.

The new, entry-level Tesla has an anticipated launch date set for 2017. This news could be bad for BMW, considering that already people in the automotive industry are calling the new car a 3 Series fighter. Adding to the speculation that Tesla is targeting the 3 Series is the very suspicious name for the model.

Some news organizations have said that the new BMW i8 is a Tesla-fighting machine, but considering the hybrid car’s insane price tag, such comparisons are like comparing apples and oranges. But at somewhere around $35,000, the new Model 3 will be sitting right at about the same price as a 3 Series. Many other automakers use the 3 Series as a target to shoot at when they design their own compact luxury sedans, like the Cadillac ATS. BMW is the brand to beat.

So far Tesla hasn’t revealed any details of the new model. Rumors are that the car will be 20 percent smaller than the Model S. Supposedly more steel will be contained in makeup of the chassis to help cut costs. The battery packs should be produced at the future Tesla Gigafactory, which will also keep the price down. In the end, the new model should bring in more owners, boosting Telsa’s popularity by quite a bit.

The Model 3 was going to be named the Model E until Ford put up a considerable fight for it. That’s too bad, considering Tesla already has a Model S and a Model X. Think about it.