Tesla launched the latest second mass-market car Model Y today (15). The firm will first release a long-range version of the vehicle with a price of $47,000 at an unveiling event in Los Angeles.
Tesla CEO Elon Musk said a standard-range model priced at $39,000 will be available by 2021.
Elon Musk has previously described the Model Y as part of a plan to reach a wider audience.
The standard model will have a range of 230 miles per charge. The Model 3 has a range of 220 miles, a top speed of 130mph and 0-60mph acceleration of 5.6 seconds.
The newly launched Model Y will have similar features as the Model 3 but will be 10% bigger in capacity that Model 3 said the car company in Los Angeles.
Nearly 40,000 customers have already per-booked the new Model Y and they will be receiving the car by end of March.