Tuesday, June 16th 2015. | Advanced Technology, Auto & Motor, Car

Tesla founder and CEO, Elon Musk, says the new Model III will have a range of at least 250 miles when it arrives in 2017, which is about 50 miles up on his original estimate. First announced in 2014, the new electric sedan will be a smaller, cheaper alternative to the mid-size Tesla Model S. Musk has previously said the Model III will start at $35,000.

At 270 miles, The 2015 Tesla Model S P85D offers the best range in Tesla’s current lineup, but both it and the Model III are well clear of electric vehicles from other companies, most of which struggle to exceed 100 miles on a single charge. Though, Audi promises the up-coming (and much more expensive) 2016 Audi R8 e-tron will have a range of 280 miles.

“There is no agenda to sell to wealthy customers only,” said Musk when speaking to The Times-Picayune at the Edison Electric Institute annual convention in New Orleans. He went on to explain that the more expensive Tesla Roadster existed, in part, to pave the way for more-affordable electric cars for a broader audience.

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