Tesla Model 3 Price, Release Date & Specs: Elon Musk's Electric Car Excites Fans

Supporters of hybrid vehicles are already looking forward to the upcoming releases from Tesla Motors' latest car model.

To excite consumers even more, company CEO Elon Musk recently announced that the new Model 3 can be ordered starting on March next year at a reasonable price.

According to the executive, the basic version of the Tesla Model 3 will debut with a starting price of $35,000. This is considered as good news for environmentally conscious motorists since the previous electric car models of the company are a bit too expensive for the average consumer.

As noted by Insider Car News, Tesla Motors was able to reduce the price of the upcoming Model 3 following the opening of the Gigafactory in Nevada. Since the facility is capable of producing lithium-ion batteries at a low cost, Tesla was able to lower the production expenses for the Model 3.

Although Musk already announced the launch period for the Tesla Model 3, the company still hasn't released official images of the vehicles final version.

According to rumors compiled by Clean Technica, the upcoming car model will be made out of mostly steel instead of aluminum like the company's previous vehicles. Also, it will be 20 percent smaller than the Model S and could go from zero to 60 miles per hour in 4.1 seconds. It will also come with a battery pack that can reportedly cover 300 miles.

However, as noted by the site, these details are only based on rumors which mean the actual product could come with a different set of features.

But aside from the Model 3, Tesla is also working on another vehicle dubbed as the Model X. Based on its price details and design, it will be part of the company's premium line of cars.

The standard version of the Model X Signature Series SUV costs $132,000. The other version that comes with all the additional features such as the towing package, Subzero Weather and Ludicrous Mode, which brings acceleration from zero to 60 miles per hour in 3.2 seconds, can be ordered for $143,750, Mashable reported.

Aside from these, the Model X will also feature Falcon Doors. Instead of opening from the sides, the SUV's doors open upwards. To prevent accidental scratches from low ceilings and other objects, the doors have been equipped with sensors.

Pre-orders for the Model X cars have already started with the first batch of vehicles scheduled to be released on September 29, according to Mercury News.