PALO ALTO (CBS SF) — Tesla has just unveiled its latest, most affordable, model yet.

The Palo Alto-based company has just introduced the Tesla Model 3, which starts at $35,000.

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Model 3, the company states, is part of its “mission to accelerate the world’s transition to sustainable energy.”

Production on the new car will begin in late 2017, Tesla officials announced.

Here’s what Tesla officials say you can expect of their new mid-size sedan:

“Tesla makes fast cars, Model 3 is no exception. The high efficiency electric motor provides zero to 60 mph acceleration in less than six seconds. And when equipped with electric all-wheel drive, Model 3 provides safe and dependable traction in all conditions.”


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Furthermore, the Model 3 will come standard with over 200 miles of range.

Tesla officials say production of the new car is expected to reach 500,000 vehicles per year.

But Tesla founder Elon Musk says Model 3 orders are limited to two per order. And there’s a cliffhanger:

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By Hannah Albarazi – Follow her on Twitter: @hannahalbarazi.