As far as the Model 3 goes, Musk relayed that Tesla’s electric car for the masses will be formally unveiled in March of 2016, whereupon the company will begin taking pre-orders. And if pre-orders for the Model S and Model X are any indication, it’s a safe bet that the Tesla Model 3 — sized at about 80% of the Model S — is poised to be a runaway hit. The only looming question is whether or not Tesla’s Model 3 design resonates with consumers.

Price-wise, Musk reiterated a price point he’s trotted out before, namely that the base price on the Model 3 will check in at $35,000. As far as a release date is concerned, Musk said that production will begin in two years time. Musk explained that Tesla first has to wait until the Gigafactory is fully operational before kicking off Model 3 production. Read more