New Tesla Model 3 revealed: price, specs and 2017 release date

Tesla CEO Elon Musk has revealed the new Tesla Model 3 electric car at a California launch event. It’s due in 2017 priced around £25k

Few cars have been met with more anticipation than the Tesla Model 3. For the unveiling, Tesla invited a crowd of Tesla owners and potential Model 3 buyers, along with members of the press, to the SpaceX headquarters in Los Angeles, California. Founder and CEO Elon Musk took the stage before the eager crowd not only to reveal the new low-priced, mass-market electric car, but to talk about how Tesla got to this point.

The Model 3 will go head-to-head with the established big sellers in the compact executive car class when it goes on sale at the end of 2017 with a starting price of $35,000 (£24,400). It will count cars like BMW’s 3 SeriesAudi’s A4 and the Mercedes C-Class as rivals but that low price for a fully electric car will set alarm bells ringing at the German firms and across the industry.