Tesla will unveil the Model 3 at an event in Los Angeles on March 31, 2016.
The Tesla Model 3 will be the third model in Tesla's portfolio after the Model S sedan and the Model X SUV and will take on the BMW 3 series, th Mercedes C Class and the Audi A4.
The Model 3 is expected to be able to run between 320 to 480 kilometers on a single charge and the Tesla is expected to beat the acceleration times of the performance variants of its petrol powered German rivals as well.
Elon Musk confirmed in a tweet that Tesla will start accepting orders for the Model 3 from March 31 with online orders starting on April 1, 2016.
Model 3 reservations (00 down) will be accepted in Tesla stores on March 31 and online April 1— Elon Musk (@elonmusk) February 11, 2016
The Model 3 is expected to hit the roads in 2017.