Tesla Motors Corp. is planning to offer up to 1 billion electric vehicle owners the chance to leave its debt and build their own company, Tesla Motors Inc. said Wednesday.
The company said in a news release that it plans to introduce the new model of its Model S sedan next year.
The new model will be able to offer Tesla buyers a range of options including a “built-to-order” version of the vehicle.
The Model S will be available with a $35,000 discount to $34,500 after a 15-percent discount on the base model, the company said.
Tesla will also offer up-to $4,000 discounts for the Model S “built to order,” which will include the optional option to build your own battery pack and the ability to choose between the company’s battery-powered battery and the internal combustion engine engine’s gasoline engine.
The electric car company said that the Model 3 will be priced starting at $35 and a Model X SUV will cost $37,900.
The release does not specify the new price.
Tesla is also working on a “premium” electric vehicle called the Model X that will cost between $65,000 and $75,000.
“We are continuing to work on making this a great vehicle,” said Michael Appleton, Tesla’s chief financial officer.
“It is not our intent to make a new product.”
Tesla Motors is one of the few automakers in the U.S. to have an electrified vehicle that can be built on a production line and shipped to customers, with the Model 4, which Tesla said was to be delivered to customers by the end of the year.
Tesla said it plans the Model Y SUV to go on sale in the second quarter of 2019.
It said that Tesla’s new Model 3 and Model X sedans will be powered by its latest battery technology, which is designed to achieve the same electric driving range as Tesla’s Model S and Model 3.
The Tesla Model Y, which has a top speed of 100 mph and a range topping 400 miles, will be the first SUV in the company to have all-electric drive and the first to use the Model E, Tesla said.
The vehicle will have a top-of-the-line battery pack that can produce 400 kilowatts of electric power, Tesla CEO Elon Musk said.
Musk said that by the year 2020, Tesla will be using an average of 400 kilawatt-hours of battery power.
Musk added that Tesla plans to sell the vehicle at a price of between $35 million and $40 million.
Tesla’s stock price has soared to more than $50 per share.