We're going to get our first look at Tesla's $35,000 Model 3 next month

Tesla Motors revealed today that the long awaited Model 3 will be unveiled on March 31.

That's the first time we'll get to see a prototype of the long-awaited electric vehicle. The car isn't expected to be on the roads until sometime in 2017.

Tesla's confirmed that the Model 3 will be offered with a price tag of $35,000, but with a $7,500 federal tax credit and a some local state tax benefits, that price could drop to as low as $25,000.

The Model 3 will be launched as a platform and is expected to serve as the basis for both a sedan and a small crossover SUV.