Talking to the UK's Auto Express, Musk didn't reveal performance details, but expects the car to have a range of over 200 miles (320 km) with performance similar to the Model S.

The car will have its sights set on BMW's 3 or 4 series, and given the success of the S, chances are the new addition will be more than capable at stealing market share from vehicles in the $30,000 - $50,000 range.