The Model 3, which has a starting list price of $35,000 -- before federal and state government incentives -- made its debut Thursday night at Tesla's Los Angeles design studio.
Because it will cost less than half of what previous Tesla vehicles go for, the Model 3's debut is considered a pivotal moment for company trying to broaden its appeal beyond the upscale luxury market.
The car is expected to have a range of at least 200 miles when fully charged, about double the range of comparably priced EV's like the BMW i3 and Nissan Leaf.
Tesla currently manufactures about 100,000 electric vehicles a year, according to media reports. The company has been hardpressed to attract mainstream buyers however, due to the cost of initial offerings -- the Tesla Model S sedan starts at $71,000, which its Model X SUV, starts at $80,000 -- and the sparseness of its dealership network.
The company sbegan accepting $1,000 deposits on the Model 3 during the live event, which streamed online at the Tesla's website.
It is scheduled to roll out of showrooms in late 2017.
Photo: Tesla Motors founder Elon Musk standing in front of a Model S in 2011.
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