The Model 3 is one of most eagerly anticipated vehicles in the near future. Tesla has gained a reputation of launching innovative cars fastened for the global market; so will the Model 3 continue to bring the company to the new age?

Although many are sceptical of what CEO Elon Musk promised, which is to deliver the car by end of year, hundreds of thousands of pre-orders have piled up for the model. Let's look at what is known on the Model 3, which is speculated to be the most affordable model and to be manufactured in large numbers compared to its predecessors.

The Model 3 is expected to feature the third-generation battery technology from Tesla. The latest battery pack is much denser than its predecessor and an improved cooling system benefits it significantly. In other words, the new technology can make the Model 3 travel further on a single charge without a heavier battery pack.

From a design perspective, the Model 3 seems to be a smaller car than the Model S. A second storage space seems to lie under the bonnet.

Alloy wheels and choice of exterior colors would also be available. The full range of options for customizations will be available after the configurator for Model 3 is launched. Still, there has been less information on the interiors of the vehicle.

Musk officially confirmed that the Model 3 will have a base range of 215 miles in front of the live audience in California. With larger battery versions, the base range could increase up to 250 miles. As reported in Digital Trends, The Tesla CEO also assured that the Model 3 will be priced at around $3500 and the orders will start being fulfilled by next year.

The autopilot suite of autonomous driving aids will also be available, but the full details of capabilities might only be revealed by the end of 2016, as reported by The Week.

With reports that the vehicle is still in its final design stage, there is a possibility that the Tesla Model 3 may have a few tricks up its sleeve. Stay tuned for more updates here.