Tesla will take the wraps off the Model 3 in March 2016. It had been speculated that the Model 3 would be unveiled at the Geneva motor show 2016, but our sister publication, Autocar UK, reports that Tesla is likely planning a stand-alone event to reveal the car later in the month. The model will go on sale mid-2017.

Few details about the Tesla Model 3 have been released, but sources have indicated that its performance up to 100kph could eclipse that of the BMW M3, which records a 0-100kph time of 4.1 seconds. Batteries will come from Tesla's factory in Nevada, USA, and will have a range of up to 483km on a single charge.

The Model 3 is expected to sit on bespoke underpinnings rather than a cut-down version of the all-aluminium Model S platform. This is because it is tipped be around three-quarters of the size of the Model S and significantly lower in price. Chris Porritt, VP of engineering, Tesla, previously told Autocar UK, “I expect there will be very little carry over [from the Model S]. We’ve got to be cost-effective. We can’t use aluminium for all the [small car’s] components.” This means that the Model 3 will use mostly steel in its make-up, although it will probably use bonding and rivets in its construction.

Tesla’s chief designer, Franz von Holzhausen, has also said that the Model 3 will boast more distinctive styling than the relatively conventional Model S. “We will become more experimental as we develop as a brand,” he said. “Our cars need to have some personality.”

The car will compete against the likes of the Audi A4, BMW 3-series, Jaguar XE and the Mercedes C-class.