Tesla set to unveil the Model III in MarchMumbai, Jan 31(AZINS) Elon Musk is making some big moves with his automotive and energy storage company Tesla as they gear up for its biggest endeavour?: the Model III, an electric car that Elon Musk claims will not only be affordable but will propel the company from 50,000 vehicle sales last year to 500,000 in 2010.

The car is set to launch in March Tesla is calling the Model III Sedan. There are also plans to unveil a Model Y crossover vehicle buy for now the main focus will the Model III Sedan.

Though the car is set to be unveiled in March and pre-booking will begin soon after that, sources say that production will commence in 2017 with plans to open factories in China and Europe by 2018.

The standard model will cost about $35,000 before taxes which in the U.S. can range from $7,500 to over $13,000.

Elon Musk said, “It’s going to be probably the most profound car that we make, it will be a very compelling car at an affordable price.''

The car is expected to give more than 200 miles per charge from brand new innovative technology.

“For better or worse, most of Model III has to be new, it’s a new battery architecture, it’s a new motor technology, brand new vehicle structure. It’s a lot of work." said Chief Technology Officer, JB Straubel in October.

In August 2014 owner of Tesla, Elon Musk said on his Twitter feed that the car will have 8-year, infinite mile transferable warranty on the battery pack and drive unit.

Apart from Model Y, Elon Musk also wants the company to develop bigger vehicles. “I think it is quite likely we will do a truck in the future, I think it’s sort of a logical thing for us to do." said Elon Musk.