Tesla Model 3 release date, specs news: The affordable electric car is expected to come late 2017

March saw the unveiling of the Tesla Model 3, an electric car that is said to be targeted towards middle-class consumers. The car is set for release next year and Tesla is reportedly aiming to manufacture 500,000 units by the time the car enters the market.

The number may seem impossible, but according to Technology Review, Tesla plans on creating a revolutionary type factory to mass produce the Model 3. The company aims to make affordable quality cars and the factory also hopes to be used to create more models like the Tesla Model 3 in the future.

As of now, a customer can pay $1,000 to be part of the pre-order list until the Model 3 launches next year. The final price tag on the car is $35,000, and it will be Tesla's first plug-in electric vehicle.

The Week reports that Tesla plans to make the Model 3 the cheapest and most popular car in the Tesla lineup. The company launched its first car, the Tesla Roadster, back in 2008. The expensive price tag on that car built the way for the Model S, a car that was cheaper and produced in greater quantities.

The Model 3 follows the same pattern as the aforementioned car. However, it is cheaper and produced on an even bigger scale compared to the Model S.

Digital Trends reports that the car can comfortably fit five people inside. The seats can even be folded to put the car in "Camper Mode," turning the car into a makeshift tent. The dashboard also has a 17-inch LED touchscreen which shows stats like car speed and weather climate.

With a lot of people scrambling to find more sustainable ways to consume energy, Tesla's goal in providing an affordable electric car for the middle class is sure to keep a lot of environment-conscious consumers happy.

The Tesla Model 3 is set to come out late next year.