Tesla Says Report Of Model 3 Leak Is Not True

Shares of Tesla Motors Inc TSLA were trading lower by around 1 percent mid-Wednesday afternoon ahead of the much anticipated unveiling of its Model 3 sedan. Investors and auto enthusiasts need to wait until Thursday to find out details of the sedan, but Electrek is out with a set of rumors - which a Tesla spokesperson confirmed with Benzinga to be not true. Electrek, citing "a source who has seen the design that will be shown off tomorrow," the Model 3 sedan "looks like a smaller hybrid of the Model X and S." The source added that the vehicle is "a bit taller sedan with a unique front." Electrek also added that its source claimed that the Model 3 has a 0-60 speed of under 4 seconds. Finally, the higher end Model 3 sedan could have a price tag in the $50,000 to $60,000 range but comes equipped with an AWD option and a battery that can last 300 miles per charge.