IT'S HERE: All the details on Tesla's Model 3

Tesla CEO Elon Musk just took the stage in California to announce details for Tesla’s Model 3, the company’s first mid-size, high volume vehicle.

It’s the fourth piece of Elon Musk and Tesla’s master plan to accelerate the world into sustainable transport.

Tesla’s two current cars the Model S and Model X, are both extremely expensive. With the Model S starting at over $120,000 and the Model X when it lands at the end of this year likely to be even more expensive again. For Tesla to accelerate its mission, it needs a much cheaper vehicle – and that vehicle is the Model 3.

Here are all the key details on Tesla’s most important car yet:

– It will have a minimum of 345km range, even in base model form.

– It will go from 0-100km/h in less than 6 seconds in base model form, and even faster as you move up the range.

– Elon Musk said he’s “fairly confident it will be on sale in the USA by the end of 2017, which means it’ll likely be 2018 for Australia.

– It comfortably fits five adults.

– There is “More cargo capacity than any gasoline car of the same external dimensions,” says Musk. You can even fit a 7-foot long surfboard on the inside.

– The windscreen pane extends across the roof like the Model X.

– There’s a new touchscreen centre console that extends horizontally rather than vertically like in the Model S and Model X. There are also no dials or gauges in the dash, so all your information aside from speed will be displayed on this.

– All models will come standard with Autopilot hardware, which is needed for Tesla’s semi-autonomous driving features. But you’ll have to pay $4500 to have those “convenience features” activated, which includes the self-parking and self-driving features.

– It’s priced at $US35,000 which means it will likely start at $60,000 in Australia, once you factor in currency conversion, tax and shipping costs.

– Tesla is repurposing “almost no parts” from the Model S or Model X.

– There have been over 130,000 pre-orders in a little over 24 hours.

– This is the first look at the interior, hopefully some more pictures will roll out soon.

Here are a few more pictures from the press kit:

Here’s a short clip of the unveil:

And here’s a Periscope stream from a passenger in the first Model 3 drive.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.