The new Tesla Model 3 electric car will be unveiled on March 31st as the order books open. It promises a range greater than 200 miles on a single battery charge, performance to challenge rivals like the BMW 3 Series and Lexus IS, and affordable prices that should compete with them too. You’ll be able to watch the Tesla Model 3 live on March 31st, but to secure a place on the waiting list it has been confirmed that you’ll need a $1,000 deposit. Production is due to get under way in late 2017

 

“When production begins, we will begin deliveries in North America starting on the West Coast, moving east. As we continue to ramp production, we will begin deliveries in Europe, APAC and right-hand drive markets,” the company says. “It is not possible to ship to all regions simultaneously because regulators in each part of the world have slightly different production requirements. Staggering deliveries in this way also allows us to provide the best possible customer experience.”

 

‘Affordable’ is relative when it comes to new technology, and the word is the new Tesla Model 3 will cost upwards of $30k when it goes on sale. Compared to the Tesla Model S and Model X which both cost upwards of $50k, that looks like a bargain.