Mark your calendars. The Tesla Model 3 EV's unveiling is set for March 2016 with sales commencing in 2017, a report said.
"Power for the Model 3 will come from batteries produced in Tesla's new gigafactory, which will go on stream in Nevada later this year," Auto Express said.
Less than a year until the upcoming EV is set to go public, Tesla has remained tight-lipped about it. The Model 3 will compete against the BMW 3-Series, Audi A4, Mercedes-Benz C-Class and Jaguar XE.
When it does come out, an analyst predicts it could blow its chief rival, the BMW 3-Series, out of the water. The report even went on to say that it's possible the Model 3 "saves energy, goes quicker and cost less" than its rival from Munich.
Auto Express expects the Tesla Model 3 EV "to have a level of performance that would at least match BMW's M3 and M4 supercars." And with the Model S sedan's recent "Ludicrous Mode" update, it's not such a farfetched idea. Even the Model X SUV is getting the acceleration mode, according to CEO Elon Musk.
With a March unveiling, many expect Tesla to show off the Model 3 at the Geneva Auto Show. But according to Autocar, this won't be the case. Instead, the Palo Alto, Calif.-based EV maker will reportedly hold a bespoke event later in the month.
Apart from all-new models, Tesla may also be developing an update to an old one.
"During a recent announcement of updates to the existing Model S sport sedan, 2019 was dropped as the new target global release date for the upcoming [next-gen] Roadster," Top Speed said.
A new Roadster, along with the upcoming Model X SUV, Model 3 and existing Model S lineup, would help fulfill Tesla's plans to sell half a million cars a year by 2020, according to the website.
Until then, the world can look forward to the unveiling of the Tesla Model 3 EV next year.
