Elon Musk says a Tesla with 400 miles of range is coming soon

• Tesla is expecting to introduce a vehicle that can achieve 400 miles of battery range soon.
• "It won't be long," CEO Elon Musk said during the electric-car company's shareholders' meeting on Tuesday.
• Musk remarked on producing a longer-range vehicle as he boasted about the success of the Model 3, which itself can travel up to 310 miles on a full charge. He did not say whether one of Tesla's current vehicles or an as-yet-unannounced car will reach that 400-mile number.
• The longest-range Model S can achieve 370 miles on a full charge, and the forthcoming second-generation Tesla Roadster is expected stretch out to 620 miles.
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Tesla plans to give its cars even more range.

"It won't be long before we have a 400-mile range car," Tesla CEO Elon Musk said during the electric-car company's shareholders' meeting on Tuesday.

Musk made that prediction as he highlighted the sales performance of the Model 3, which became the best-selling electric car in the world last year.

The Model 3 can travel up to 310 miles on a full charge. Musk did not say whether one of Tesla's current vehicles or an as-yet-unannounced car will reach that 400-mile range. The longest-range Model S can achieve 370 miles on a full charge, and the forthcoming second-generation Tesla Roadster is expected to stretch out to 620 miles.

Read more: Elon Musk just said Tesla has a good shot of setting a record for deliveries this quarter

A longer-range electric vehicle would likely reduce any lingering anxiety among buyers shopping for plug-in cars, and boost Tesla's profile as the market leader in long-range EVs. The company's biggest competitors like Chevy's Bolt EV and the Nissan Leaf Plus come in second with 238 miles and 226 miles of range, respectively.

Additionally, Musk expressed interest in enabling Teslas to use other high-speed charging networks, which would be an added convenience for Tesla owners, though the company's proprietary Supercharger network is already one of the most robust electric-vehicle charging networks in the world.

Shares of Tesla rose about 3.5% in after-hours trading to $224.82 on Tuesday evening.

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