Tesla Motors CEO Elon Musk confirmed via Twitter that the Model 3 will make its debut on March 2016 and preorders will start then.

The Tesla Model 3 is the company's entry-level sedan and according to Musk the vehicle will cost USD 35,000 (around PhP 1.6 million). However, Musk said that Tesla will start production of the Model 3 in “about two years” as the company has yet to have their 'Gigafactory' fully operational.

Tesla's 'Gigafactory' broke ground last June 2014 and the company expects to begin cell production in 2017. Tesla also said that the 'Gigafactory' will reach full capacity by 2020.

Note: Photo shown above is the Tesla Model S