Tesla is about to unveil a car with a range of over 200 miles (322 kilometers) that it plans to begin selling by 2021.
Tesla will reveal the new electric vehicle at a press conference in the company’s headquarters on Wednesday, and it is expected to have a range that will rival some of the most expensive luxury sedans in the world.
Tesla’s Model S sedan will be priced at about $100,000 ($164,000) with a $30,000 discount, and the first production Model X will go for about $140,000.
The new electric car is expected, along with the Model 3, to be the companys biggest revenue driver in 2017.
Tesla is also expected to announce a larger-than-expected launch of its Gigafactory in Nevada next year.
The company says the new vehicle will be capable of delivering a car price of $30 per kilowatt hour (kWh) of energy produced.
Tesla said the new car will have “the most electric powertrain ever built” and will have the capacity to travel from New York to California in just 4.8 hours.
The car is scheduled to go on sale in 2021.
The launch of the Model X is expected around the time of the Tesla Gigafactories, as the company is looking to produce more cars and sell more of its premium models to boost its sales and earnings.
Tesla hopes to make $1.5 trillion in the next decade, according to Bloomberg.