The head of Tesla Motors Elon Musk said the company plans to release a budget electric car, which will be cheaper than the most affordable model of the brand – the Model 3. “The Model 3 was developed taking into account the fact that the purchase of the electric car can afford to every second person, but will be the initial model, which is still available on the market in the future”, – said the head of Tesla Motors. It is expected that the new product will be called Model 4, and will be a direct competitor to the CD-punishment of Renault Zoe. The premiere of the electric vehicle will be held not earlier than 2018. According to Elon Musk, the company originally planned to build a cheap electric car, but in the initial stages of development of the company was in need of more expensive machines. Now, the company has all the necessary resources for the mass production of more affordable models.