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[RustyNails]

It's the car Tesla "has always wanted to make." But it's still about three years away.

That's per Tesla CEO Elon Musk, who spoke to CNN's Poppy Harlow Tuesday about the progress of the company's long-planned affordable offering.

At the moment, the only vehicle the electric car maker has on the market is the widely acclaimed Model S, prices for which start around $70,000. When it does hit the market, the cheaper vehicle will go for about $35,000 Musk said, with drivers of course saving by not spending on gas.

"[O]ur mass-market, affordable car is about three years away," Musk said. "That's the car we've always wanted to make."

Related: Tesla to recall overheating chargers

Musk's comments came on a day when the automaker revealed it sold 6,900 Model S sedans in the fourth quarter, which is 25% higher than the previous quarter and about 20% over its most recent guidance. Tesla (TSLA) shares surged nearly 16% Tuesday, and rose another 3.6% in after-hours trading.

Up next for Tesla is the Model X SUV, which will sell for between $70,000 and $90,000. That vehicle is set to go on sale in late 2014, and Musk said high-volume deliveries will come "in about a year."

Musk said Tesla would also like to produce a pickup truck similar to the Ford (F, Fortune 500) F-150, though that project probably won't come to fruition for "something like four to five years." To top of page

Are Obama's electric car tax credits still in place after 3 years? Anyways, can't wait.

 

[Jotaka]

In Musk I trust. This guy is a genius

 

[Amagon]

I guess it's time to start saving some scratch when this comes out.

 

[Clydefrog]

someone name a town after this man already

 

[Lathentar]

The biggest question for me will be how many miles per charge will it have at that price point. Originally the base Model S was going to have a range of 160 miles. Without a backup gas generator (like the Volt), range anxiety will still be a big problem. The Model S gets away with it because it's range is ~200 miles.

 

[Phoenix]

Hopefully by then the rest of the infrastructure being bandied about by investors and entrepreneurs will be ready as well. Must knows as well as everyone else that its not just enough to build a cheap electric car, you have to support its day-to-day driving ability and that particularly means making sure that you can function without having to remember to plug it up or otherwise deal with the range anxiety issues that will tanks the market as the normal "stupid" drivers take to the streets in them.

I've already experienced first hand someone here in Atlanta who took a Nissan Leaf out and ran out of charge at a Wendy's drive thru and LITERALLY was plugging in through the drive thru window in order to get enough charge to make it home. That sort of this can't become common if electrics are to be a viable candidate for the replacement of gasoline vehicles.

Personally I can't wait for the day, though when they announce a 35K electric mass production vehicle - the subsidies will go out the window the following morning.

 

[HiResDes]

GREAT NEWS!

 

[Phoenix]

The biggest question for me will be how many miles per charge will it have at that price point. Originally the base Model S was going to have a range of 160 miles. Without a backup gas generator (like the Volt), range anxiety will still be a big problem. The Model S gets away with it because it's range is ~200 miles.

The target is 200 miles according to the folks on the Tesla forums. That seems to be the sweet spot for some of the new battery tech that's about to start rolling into electric offerings.

 

[Anion]

Man. I told my dad to buy Teslas stock in 2010...if he would have, we would have bought 5 Tesla Roadsters by now.

Anyways, this is screaming "buy more stock"

 

[TCRS]

How long do the batteries last? Not per charge I mean but overall? Three years, longer?

 

[Valnen]

Will it be cheap to repair if it breaks though? Not that 35k is exactly "cheap".

 

[Rocket Scientist]

Kind of disappointing how slow this tech is moving.

The other day there was a car show on Discovery and Jay Leno was driving around in an electric car from 1909. Was strange to see an electric car from that era.

 

[KingGondo]

Very exciting.

If I had the money I'd be all over the Model S.

 

[slit]

Yeah, maybe I'll get one when it's practical for me. No where near that point now.

 

[Lathentar]

The target is 200 miles according to the folks on the Tesla forums. That seems to be the sweet spot for some of the new battery tech that's about to start rolling into electric offerings.

That would be great for me. Enough to drive from Austin to Houston on a single charge.

 

[SpecX]

Sold! I'll be in the market at that time and was curious to see where the Volt would stand by then, but this could be my next car if they style it to my liking and the range can reach 200 miles.

 

[Shake Appeal]

Kind of disappointing how slow this tech is moving.

The other day there was a car show on Discovery and Jay Leno was driving around in an electric car from 1909. Was strange to see an electric car from that era.

https://en.wikipedia.org/wiki/Who_Killed_the_Electric_Car?

Very much worth watching.

 

[MutFox]

Hmmm.. For the truck, for me it's about going to rural places,
so a tesla truck probably wouldn't be for me. (Easier to get gas in a rural area then a charge)

The car though? That's awesome for city driving for sure...
Will keep an eye out for the progress made...

 

[TheMan]

question- when people cite a target range of 200 miles, what is the average speed used to calculate that figure?

 

[Phoenix]

Will it be cheap to repair if it breaks though? Not that 35k is exactly "cheap".

There are SUBSTANTIALLY fewer moving parts in electric vehicles and there are a number of shops that repair them and handle warranty work on them now so it shouldn't be a big deal. Lots of people talk about how there are more repairs you can do yourself because the parts that you'd normally have to deal with are easy to get to and replace. However, if its an issue with the electric drive train itself - you're going to the dealer or a specialty shop the same as you would with a regular vehicle.

 

[AstroNut325]

I love everything about Tesla and just about everything Elon Musk is doing but I don't see this "$35K USD" car going anywhere close to $35K USD. The Model S was intended to be around the $50K price tag and it's average sale price is over $80K. I'm thinking this "mass-market" model is going to be closer to $45-50K.

 

[Valkyr Junkie]

I love everything about Tesla and just about everything Elon Musk is doing but I don't see this "$35K USD" car going anywhere close to $35K USD. The Model S was intended to be around the $50K price tag and it's average sale price is over $80K. I'm thinking this "mass-market" model is going to be closer to $45-50K.

The $50k model of the S was canceled due to low order numbers. Even still, it was pretty shady of them considering their government loan was based on the fact they were going to have a car available for close to $40k after rebates and incentives.

 

[triplestation]

He's like the real tony stark

 

[Joel Was Right]

This is in many news old news. Musk has been public about this for the past 12-14 months; the affordable Model S is 3-4 years away, he claims.

 

[tipoo]

I still think this guy is Iron Man.

 

[Morts]

Right around the time I pay off my Fusion...

I wonder how bare bones a $35k Tesla would be though.

 

[Damaniel]

If he says 3 years, I believe it. Elon Musk is both a genius and a hell of a businessman.

And at $35k (minus tax credits and incentives), I'll be first in line assuming it can get over 100 miles per charge. If I thought I had any chance of affording it whatsoever, I'd already own a Model S.