Tesla planning to unveil its budget car in January 2015

Tesla, the maker of the $69,900 Model S, plans to reveal its all-electric budget model car at the Detroit Auto Show in 2015. The Auto Show typically takes place in January. 

Tesla’s chief designer, Franz von Holzhauzen, revealed in an interview with Autobild that there is still over a year to see the car, which is being called the "Model E" in speculation even though an official name hasn't been given by the company.

The Model E will be Tesla's car for the masses, instead of a $69,900 car that only the more affluent can afford. It is rumoured to cost roughly $30,000 after a tax credit, with a 200-mile battery range.

Tesla founder and chief Elon Musk has kept pretty quiet about the budget car. A design for the Model E hasn't been revealed, but Holzhauzen said it could carry the same size as the Model S, while having a distinct design.

Before the Model E hits, Tesla still has the all-electric Model X luxury SUV to release in 2014 that will cost more than the Model S. Once the Model X hits, we suspect speculation and hype from Musk about the Model E will ramp up to not only juice fans, but investors as well.

Following the Model E, Musk says Tesla has plans for an all-electric truck. Holzhauzen said in the interview with Autobild that the truck will have the same chassis as the Model E.

The Model S has given Tesla great success, which it hopes it can keep up with the Model E. The Model S uses half the energy of the Toyota Prius, giving a total range of about 250 miles between charges. Furthermore, its body style is sleek, embodying a sports car, rather than the typical EV you see cruising down the highway on a daily basis.