Tesla Model 3 will be for sale on 31 March, with a $1,000 reservation fee

The mass-market electric car, which will be the third in Tesla's fleet, won't arrive in driveways until at least 2017

Tesla's fourth car, the Model 3, will be revealed on 31 March, chief executive Elon Musk told shareholders on the company's quarterly earnings call.

Long awaited, the Model 3 is intended to be Tesla's first "moderately priced" car. Tesla has said that it will have a starting price of about $35,000, which will likely be reduced further by the electric vehicle subsidies on offer in many countries around the world.