On Tuesday night, Tesla Motors confirmed rumors that plans were underway for a third-generation electric car called the Model III to go on sale in 2017 that will be priced at $35,000 and compete with the BMW 3-series. That price tag will be half of Tesla’s Model S, while matching its 200-mile range on battery power. “We were going to call it model E for a while and then Ford sued us saying it wanted to use the Model E—I thought this is crazy, Ford’s trying to kill sex! So… the new model is going to be called Model 3,” said CEO Elon Musk.
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