Tesla Model 3 Will Be More Affordable, Less High-Tech Than Model S, Elon Musk Says

Hope you didn't get your hopes up, Tesla maniacs. Tesla CEO Elon Musk explained on Twitter Friday that the upcoming Model 3 is not intended to be a next-generation Tesla, but rather, will effectively be a cheaper, less high-tech version of its flagship Model S sedan.

Musk apparently noticed there was confusion regarding how the Model 3 would slot into Tesla's automotive lineup, so he took to Twitter to clear the air about the upcoming mass-market electric car.

"Am noticing that many people think Model 3 is the "next version" of a Tesla, like iPhone 2 vs 3. This is not true," Musk said in a tweet. "Model 3 is just a smaller, more affordable version of Model S w less range & power & fewer features. Model S has more advanced technology."

Apparently, the Model 3 is more of an iPhone SE to the Model S's iPhone 7. 

The CEO also said that the first Model 3s to be delivered will be rear-wheel drive only, while the dual-motor cars will come later. Right-hand drive models will also be put aside until the first left-hand drive RWD models are built, Musk said over Twitter. 

A "performance" Model 3 will come about a year from now, according to Musk's estimate. But the car will not be able to match the Model S's launch speed of 0-60 miles per hour in less than 2.5 seconds.

The CEO also tweeted out a short clip of a close-to-production-ready Model 3 speeding through a Tesla parking lot.

The video appears to show a car with a slightly tweaked front-end compared to the one we recently saw video of driving around in California. The blue car shown above looks like it has a different front bumper, swapped front headlights, and no lower bumper-mounted daytime-running lights.

Musk ended his Model 3 information spread by retweeting a handful of pleased Tesla owners.