Tesla CEO Elon Musk.
That's per Tesla CEO Elon Musk, who spoke to CNN's Poppy Harlow Tuesday about the progress of the company's long-planned affordable offering.
At the moment, the only vehicle the electric car maker has on the market is the widely acclaimed Model S, prices for which start around $70,000. When it does hit the market, the cheaper vehicle will go for about $35,000 Musk said, with drivers of course saving by not spending on gas.
"[O]ur mass-market, affordable car is about three years away," Musk said. "That's the car we've always wanted to make."
Musk's comments came on a day when the automaker revealed it sold 6,900 Model S sedans in the fourth quarter, which is 25% higher than the previous quarter and about 20% over its most recent guidance. Tesla ( shares surged nearly 16% Tuesday, and rose another 3.6% in after-hours trading. )
Up next for Tesla is the Model X SUV, which will sell for between $70,000 and $90,000. That vehicle is set to go on sale in late 2014, and Musk said high-volume deliveries will come "in about a year."
|GM's recalled Cobalt was a failure from the start|
|Your Internet security relies on a few volunteers|
|Americans have fallen in love with real estate once again|
|Why you should pay off your car loan ASAP|
|Lara Spencer promoted to 'Good Morning America' co-host|