Elon Musk may actually be strategically targeting millennials, who have increasing buying power nowadays.
The new mid range Tesla Model 3 features a range 260 miles and comes at a price tag of $46,000.
Tesla hopes that Model 3 could push the company at the top of the autonomous vehicle industry by 2023.
From its beginnings, Tesla has been committed to bringing zero-emission vehicles to a global consumer at accessible price points.
Tesla's losses in the last quarter of 2016 prompts a 5.8 percent slip in shares and its CEO's resignation.