Tesla Motors says it will start taking orders for smaller, lower-priced Model 3 car in March

Associated Press

Tesla Motors says it will reveal its lower-cost Model 3 electric car in March and will start taking orders then.

In a tweet Wednesday, Tesla CEO Elon Musk says the car will start at $35,000, or about half the starting price of its current Model S sedan. Musk said the Model 3 will start production in about two years.

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Musk also said deliveries of the Model X SUV — the company's third vehicle — will begin Sept. 29. Tesla wouldn't reveal pricing details.

Musk said each trim level of the Model X will be around $5,000 more than the equivalent trim level of the Model S because of the SUV's greater size and complexity.