Tesla Model 3 Launch, Reservations Set for March 31

Invitations to the unveiling of the $35,000 Tesla Model 3 have begun going out, with the reveal set for March 31 in Los Angeles. Tesla has released just a single teaser image of the upcoming Model 3, which will reportedly have a 200-mile driving range when production begins in 2017.

According to Electrek, Tesla workers and current owners of the Tesla Model S or Model X will get first dibs on the Model 3 reservation process, which also opens on March 31. A $1,000 refundable deposit is required to reserve a place in line for the Model 3.

It’s unclear whether the Model 3 will be eligible for the $7,500 federal tax credit when it enters production. The Tesla Model 3 is the electric automaker’s first official entry into the “affordable” car market, though analysts expect the average Model 3 to cost between $40,000 and $50,000 once option boxes are ticked off.

There have also been rumors that the Model Y crossover could debut alongside the Model 3, though Tesla has vehemently denied those rumors. A hack has also revealed the potential existence of a Tesla P100D model that could offer over 300 miles of driving range per charge, and Tesla CEO Elon Musk didn’t deny the rumors.

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