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# Tesla Announces $35,000 Model 3, Will Compete With BMW 3 Series

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<!-- video src="https://cdn.jwplayer.com/manifests/yfHjn2Fa.m3u8" -->
## Video: Tesla Announces $35,000 Model 3, Will Compete With BMW 3 Series

[Watch (HLS stream): Tesla Announces $35,000 Model 3, Will Compete With BMW 3 Series](https://cdn.jwplayer.com/manifests/yfHjn2Fa.m3u8) (1:18)

![Tesla Announces $35,000 Model 3, Will Compete With BMW 3 Series](https://cdn.jwplayer.com/v2/media/yfHjn2Fa/poster.jpg?width=720)

_Published 2014-07-16. Tesla Motors has announced the latest addition to its electric car line-up. The Tesla Model 3 will run you $35,000 and has a range of 200 miles on a single charge._


---

Jul 27, 2023 5:00 PM UTC

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---


## Transcript

Tesla just pulled back the curtains on a new model of its much- talked about Tesla vehicles. In an exclusive interview with a UK- based car news outlet, Tesla founder and CEO, Elon Musk, announced its new electric, the Tesla Model 3. Tesla says the car will compete directly with the BMW3 series and it's not hard to imagine given that, you know, model 3 name. According to Engadget, the Tesla model is targeted more at the mainstream market, with a $ 35, 000 price tag, half that of the previous model. The car will reportedly have a range of 200 miles on one charge. And will run on batteries manufactured in Tesla's upcoming giga factory battery plant.

Venture Beat notes Tesla also announced plans to upgrade its original roadster model with a bigger battery. The upgrade would give the car a 400 mile range on one charge. As far as the Tesla Model III goes, Musk says he originally wanted to name it the Model E since the company makes a Model S and a Model X. You get the idea. Unfortunately or fortunately depending on how you look at it, Musk says Ford sued Tesla for the Model E name so they went with the Model III instead. Auto Express reports that the car will be unveiled in 2016 and will go on sale in 2017. Thanks for watching. I'm Mike Esargent.

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