Tesla boss Elon Musk has revealed in a brief tweet that the EV automaker's Model 3 midsized sedan will enter production "in about 2 years", with a price tag expected to be somewhere in the region of US$35,000 (AU$49,880).
While we'll get our first good look at Tesla's most affordable model in March 2016, the delay in production comes down to the readiness of Tesla's new "Gigafactory" battery plant in Nevada.
With the Model 3 expected to sell in much higher volumes than the existing Model S large sedan - and with the Model X SUV set to join the Tesla family soon - securing a sustainable supply of batteries is crucial.
Tesla will be targeting luxury midsizers like the BMW 3 Series, Audi A4 and Mercedes-Benz C-Class with the Model 3, but word on the street is that it won't utilise a derivative of the larger Model S' aluminium platform due to cost considerations.
Instead the Model 3 is expected to use a bespoke platform made largely from steel, with a typical range of around 320km.
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