The new entry will be half the price of the Model S, with styling appealing to younger shoppers.
After the unexpected success of its electric Model S, Tesla officials announced their plans to enter another market with a new model to be uncovered soon. This new entry will be sized and priced to directly take on BMW's 3 Series. Tesla will be introducing this compact sports sedan for model year 2016, and it is expected to be priced around the $40,000 mark.
The compact sports sedan will follow the fully electric Model X SUV, introduced last year in Detroit with gullwing doors. This super-soccer-mom hauler is supposed to deliver 0-60 performance in less than 5 seconds. In addition, the company claims its rumored plans of building a pickup truck for the U.S would not be realized any time soon. With growing sales throughout the U.S and an expanding network of supercharger stations, Tesla's newest model poses a serious threat to the German favorite.