Elon Musk, the head of Tesla motors, has said he expects to be selling a $30K or $35K electric car that is 20 per cent smaller than the Model S within the next three to five years.
The comments, made at the D11 conference staged by All Things Digital, the tech blog of The Wall Street Journal, will be welcomed by those who want to go electric but so far can't afford the Tesla Model S or the company's more powerful roadster sports car.
Musk, who Twitter seems to have deemed the next Steve Jobs, also spilled the beans on the company's plans to triple the number of supercharger charging stations in the US.
The new network will eventually allow you to drive from LA to New York using just the Supercharger network.
Musk also confirmed that the density and the scope of the network would be increased.
Tesla users will automatically receive the new locations of the superchargers via their car's on-board navigation system and be routed to them when they are active if they need a charge.