Tesla is set to slash its entry price by more than $70,000.

Elon Musk, the head of the American electric car maker, replied to a tweet by Australian-based Nicholas Orford who asked about how much it the upcoming entry-level Model 3 will cost locally by saying it would match its US pricing plus local import duties and taxes.

$US price in $AUD plus import duties and sales tax

— Elon Musk (@elonmusk) July 25, 2017

By Drive's calculations that should mean the entry-level Model 3 which is priced from US$35,000 will sell for $50,237 in Australia. However, that will be for the base model with at least three upgraded electric motor and battery options likely to be offered by Tesla in Australia, in keeping with three-tier line ups for both the Model S and Model X.

The first production example of the Model 3 will be officially unveiled in a ceremony in California this Saturday (Australian time). The first car is expected to arrive down under in 2018 but that date is yet to be confirmed with full-time production of the Model 3 not set to begin until later this year. Tesla has previously claimed more than 400,000 pre-orders have been taken since it first revealed the pre-production version of the car in April 2016.

Tesla has revealed the Model 3 will have a range of 346km between charges. It will be equipped with supercharger capability for faster recharging at Tesla's own infrastructure points. However, unlike early Model S and Model X customer who can use superchargers free of charge, Musk has previously confirmed Model 3 owners will need to pay for public recharging.

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