Tesla's entry-level $35,000 Model 3 electric car will be available for pre-order on March 31, chief executive Elon Musk announced Thursday on Twitter.
The tweets by the billionaire followed a note in the company's earnings release on Wednesday that the Model 3 is on schedule for deliveries in late 2017.
Tesla plans to begin installing production machinery this year.
In his tweets, Musk said consumers could begin preorders next month with a $1,000 deposit.
Model 3 reservations ($1000 down) will be accepted in Tesla stores on March 31 and online April 1— Elon Musk (@elonmusk) February 11, 2016
He also confirmed the rumored $35,000 price tag.
@MysteryGuitarM yes— Elon Musk (@elonmusk) February 11, 2016
The Model 3 is Tesla's entry-level offering, whereas the Model S and Model X SUV carry hefty price tags.
Musk also announced that the company would not be releasing a "signature" version of the Model 3. Signature versions of the Model S and X were put on sale and came fully loaded with the top features. A signature Model X costs around $130,000.