"I'm super excited about being able to produce a car that most people can afford," he said. "And there will be future cars that are even more affordable down the road."
"But with something like the Model 3, it's designed such that roughly half of people will be able to afford the car," Musk explained. "Then, with fourth generation and smaller cars and whatnot, we'll ultimately be in the position where everyone will be able to afford the car."
Priced at $35,000 in the U.S., the upcoming Tesla Model 3 has already picked up over 325,000 pre-orders worldwide since its introduction on March 31st. A cheaper Tesla will likely create an even bigger frenzy.