Tesla's dropping Model 3 announcement tonight

Elon Musk in 90 Seconds

Elon Musk is a master showman. Consider the big Tesla announcement coming tonight at 8:00 pm eastern time. The Tesla CEO has been teasing a big "new product" reveal for a week and a half now.

That announcement seems to be something to do with the upcoming Model 3 electric car, according to a tweet from Musk today.

Relate: Elon Musk to Tesla employees: Let's make a profit!

When the Model 3 was first unveiled in April, Musk said that the vehicle he was showing off -- and that journalists were riding in -- wasn't the final product. More details about the final production vehicle would be revealed later, he said.

It's been a drawn out process. He initially said a product announcement of some sort -- which he vowed was "unexpected by most" -- would be on October 17. There was speculation it would be about the Model 3, but Musk provided no details.

A couple days before the scheduled announcement, Musk postponed it, saying, "Needs a few more days of refinement." Still, there was no hint as to what it might be about.

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Musk tweeted Wednesday that the "new product reveal" he had mentioned so many days ago would actually be Wednesday night. In a subsequent tweet he wrote, "This is also what I was alluding to by Model 3 part 2."

The announcement is scheduled for 8 p.m. ET and will be followed up by 30 minutes of media questions.

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