Tesla Motors have recently discussed in a conference call that Model 3s are already on the works, while production of Model S has been discontinued. So-called "release candidates" of the newest low-priced Tesla green car have also been introduced by CEO Elon Musk. The "investor-only" conference call also discussed the new $1.2 billion (approx.) capital raise announced this week.

It took Tesla a short time to introduce its newest cheap car. This makes people speculate that the popular electric car company is hitting quality targets faster than expected. Elon Musk explains that prototypes of the car being built now are “almost entirely built with production tooling”, that's why they call it “release candidates” instead of the expected beta prototypes.

Musk adds that the quality of the release Model 3 candidates is higher than it was for the Model S or X. Tesla's move to replace the cheap Model S, worth $68,000, with an even cheaper Model 3, at a price of $35,000, is part of Musks campaign of making green cars more easily available to the general consumer. According to Forbes, the electric-car maker have already sent emails to customers last week, informing potential customers interested in Model S that April 16 would be the last day to order the vehicle.

The move would help further distinguish the Model S as a higher-end option for customers, The Motley Fool reports. Musk have also described the feature of the company's newest cheapest car. He explains that the Model 3 only has one screen, whereas the Model S and Model X have two screens with two separate computers powering each screen.

Also, while Model S has three kilometers of wiring, Tesla simplified the wiring system considerably in Model 3 with only 1.5 kilometers of wiring. Several bells and whistles present on a Model S and Model X are also removed on Model 3. There aren't any self-presenting door handles, or falcon-wing doors to reduce the risk substantially in the ramp, and make it just easier to scale.