Elon Musk, the visionary entrepreneur behind PayPal, SpaceX and Tesla Motors, has provided some new information while also confirming other details about his automotive venture's plans, during Tesla Motor's annual shareholder meeting on Tuesday.
Perhaps the most important bit of news shared by Musk was the confirmation of a smaller battery-powered model, currently known as the Gen III. "It will probably arrive at the end of 2016 I would say - the third generation vehicle, or the vehicle that is in a lot of ways a smaller version of the Model S at about half the price".
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