Tesla's Model X was unveiled in mid-2012. Photo courtesy Tesla.

Tesla's Model X was unveiled in mid-2012. Photo courtesy Tesla.

Tesla Motors plans to unveil a more affordable electric car in early 2015 to expand its reach as it moves into its third generation of battery electric vehicles.

Tesla's Model E, which will sell for about $40,000, would be almost half the price of its Model S sedan that starts at $71,070. Tesla confirmed it plans to unveil the car at the 2015 North American International Auto Show in Detroit, reports the Los Angeles Times.

In late 2014, Tesla plans to sell its long-awaited Model X Sport-utility. The Model X will be comparibly priced to the Model S. Tesla is producing about 21,000 Model S sedans this year.

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