Model 3

Make
Tesla
Segment
Sedan

The walking rumor mill that is Elon Musk has struck again, and this time with some very important news for those who want a Model 3 but need something a little more "entry level" than the $35,000 EV. Speaking at a transportation conference in Norway, Musk hinted that there may be another cheap Tesla emerging to steal pre-orders and deposits, but it won't be a sister to the Model 3, like the proposed Model Y. Instead, this car would slot even lower than the Model 3 and make it so that no one has an excuse to stay away from EVs.

Early on in Tesla's inception, Musk outlined a three-step plan for the company. It would start by debuting an expensive, low-volume EV. Next, a cheaper and higher-volume car would come out, although this vehicle would still be out of reach to the majority. The third step was the Model 3, a cheap high-volume car that, in Musk's own words, should be accessible to at least half of the population. However, this may not be the last we'll see of a cheap Tesla. At the transportation conference Musk told attendees that a fourth phase would involve a cheaper car that everyone would be able to buy. The Model 3 competes with entry-level luxury sedans like BMW and Lexus, but it seems like the American company may swim further downstream.

Tesla's CEO told the conference that a new car would be much more affordable, which means that it could compete with offerings like the Honda Accord and Toyota Corolla. To pull this off the Model 3 will have to hit the streets relatively problem free. With 400,000 pre-orders for the car already in place, it's obvious that the demand is there. Now the hard part rests on Tesla, which has to find a way to meet the demand with a quality product in due time. Recent reports suggests that quality is an issue for Tesla, and we all know that tardiness is a Musk signature, so those with aspirations for a silent commute in a bargain basement Tesla should cross their fingers and hope real hard.