What We Know About the Tesla Model 3

Will the newest Tesla be a game-changer?

Most new car launches happen at either a major auto show, or during some type of event that marks a special date for the automaker. However, when dealing with Tesla, the electric auto manufacturer doesn't do anything by the book. That's why tonight, at 8:30 p.m. Pacific time, Tesla will unveil its brand-new -- and potentially game-changing -- Model 3.

The Model 3 is billed as Tesla's car for the masses. Unlike the starting price of the Model S of $75,000, the Model 3 is expected to have a base price of around $35,000, both of which are before any state or federal tax incentives. This will, according to Tesla, allow the normal buying public to purchase a fully-electric car without having to fork over three years' worth of paychecks to afford one. Perhaps the closest competitor will be the Chevrolet Bolt, which is expected to cost a similar amount.

Besides the price, here's what we know about the upcoming Tesla Model 3.

Those Tax Credits Won't Be There For Much Longer.

Tesla is very nearing its incentives cap, which will disappear when the automaker hits 200,000 cars produced in the U.S. And if the Model 3 is the boon Tesla believes -- the company believes that it will help Tesla sell more than 500,000 cars each year -- the Model 3 will likely cost more than everyone believes it will after these incentives go the way of the dinosaur.

Range Anxiety Might Be a Thing, But May Not Be

Part of the Model 3's selling point is that it's a car for the masses and that means something that can be driven for extended periods of time, because a normal car will get you wherever you want to go whenever you want. Right now, Tesla wants the base Model 3 to hit at least 200 miles on a charge, not much, but according to some rumors, Tesla also might offer an optional 80-kWh battery that will feature a range of near 300 miles, thus ending range anxiety for those that opt for the larger battery.

Ready to Drive You All By Itself

As the Model S and Model X continue the advancement in autonomous driving with the company's Autopilot software, the Model 3 will supposedly have all the hardware and software already built into the car's electronic brain. But features like this will likely be something consumers will have to pay extra for.

Reservations For the Car Have Already Begun

According to Tesla, you can either find your closest Tesla store, or like a sane adult that has to work, reserve your Model 3 online for just $1,000. In-store reservations began today at 10:30 a.m., while online reservations will start around 8:30 p.m. But this is still a car you'll have to wait for until at least next year to begin production.

We'll be on hand at the Tesla reveal later tonight, and will bring you all the information the company and Elon Musk have to offer as soon as possible, so stay tuned.

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