All recent statements from Tesla Motors indicate that development of the Silicon Valley automaker's Model 3 electric car is still on track for a launch sometime in 2017.

And while the company has said it plans to unveil the car next year, it hasn't discussed anything more specific than that.

Now, a new report claims the Model 3 could make its first appearance in less than a year.

DON'T MISS: Tesla Model 3: Revealed Next Year, Production Starts 2017, Company Confirms

The new electric car will be revealed in March 2016, and could have greater range than originally anticipated, according to British motoring magazine Autocar.

While the Geneva Motor Show is typically held in March every year, the report claims Tesla will unveil the Model 3 at a standalone event.

It also claims the Model 3 could have a range of up to 300 miles.

2012 Tesla Model S

2012 Tesla Model S

Tesla has repeatedly said that the car--which is expected to cost around $35,000--will have a 200-mile range, so this may be something to take with a grain of salt.

Autocar is a British publication, so it may also be referring to range as measured on the much more optimistic European testing cycle.

The Model 3 will reportedly use a bespoke platform--not one adapted from the Model S--and will be roughly the same size as a BMW 3 Series.

ALSO SEE: Tesla Model 3 Lineup To Include SUV, Sedan; 1 Million Electric Cars By 2020

However, Autocar claims the Tesla will do 0 to 60 mph in 4.1 seconds, matching the performance of the M3--the hot-rod version of the 3 Series.

The timeliness of the Model 3 will largely rely on the completion of Tesla's massive Nevada "Gigafactory."

The factory will supply lithium-ion cells for the Model 3; the economy of scale afforded by its large size will be crucial in achieving the $35,000 price target.

2012 Tesla Model S

2012 Tesla Model S

In addition to the already-confirmed sedan, Tesla has discussed building a Model 3 crossover as well.

Selling both of those vehicles at a price that significantly undercuts the $70,000 base price of the cheapest Model S will allow Tesla to attract a broader range of customers.

MORE: Tesla Model 3: Speculating On Batteries, Power, Price, Versions

This in turn will go a long way toward achieving Tesla's goal of 500,000 annual electric car sales by 2020.

That would bring the company's cumulative sales to 1 million cars by that point.


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