If you want an electric car with striking looks, the Tesla Model S is a very good option. However considering the fact that a new Model S runs north of $69,000, it doesn’t fall exactly in the budget bracket. Tesla certainly knows that which is why it has been dedicating time and resources towards a budget car. The company’s chief designer Franz von Holzhauzen tells Autobild that Tesla’s budget electric car is going to be unveiled in January 2015 at the Detroit Auto Show. It doesn’t have an official moniker as of now, but it referred to as the “Model E.”

It would sit in the budget bracket, with an expected price of $30,000 after tax credit. The Model E is likely to have a 200 mile battery range. The design hasn’t been revealed as yet, even the CEO Elon Musk hasn’t said much about it. Holzhauzen hints that it could have the same size as the Model S but have its own distinctive design. Tesla also has a couple of other vehicles up its sleeve that are bound to be unveiled. Its Model X luxury SUV, which will cost more than the Model S, is due next year. Moreover the company also has plans of making an electric truck which according to Holzhauzen is going to have the same chassis as the Model E.

Filed in Transportation. Read more about .