Tesla CEO Elon Musk dreams of an electric vehicle that is fairly accessible to everyone and his company might just release such an offering, possibly a hatchback type and part of the Model 3 line. If this Tesla EV will come out, it will be the cheapest and the smallest that the American automaker will roll out.

At present, the most affordable EV from Tesla starts at $35,000, which is the base Model 3 so it's fair to assume that Musk will work on a budget-friendly electric car inspired by the same vehicle build. The price tag will not be necessarily lower than the current but one thing is sure, markets that will be getting the Model 3 hatchback will find it compelling enough.

According to Inside EVs, Tesla's hatchback bet will compete with the Volkswagen ID 3, which should indicate that the vehicle is designed for a European release, at least initially. As the ID 3 retails for £27,500, the smaller Model 3's asking price has to be around the same range if not lower.

Tesla is likely to build the Model 3 hatchback in Germany, which will make it easier for the company to sell the vehicle at an affordable rate. As the same report noted, it's quite possible that when the EV becomes available it will undercut its Volkswagen rival.

Tradeoffs can be expected to achieve commercial accessibility for the planned Tesla hatchback, which suggests that the upcoming EV will not be as powerful as the original Model 3. How the consumers will react to this remains unknown but it appears that Musk is serious about his intent for the masses to experience the Tesla technology.

"We will not succeed in our mission if we don't make cars affordable ... Our cars aren't affordable enough. We need to fix that," the company chief was reported as saying.

CNET said the Tesla hatchback could be based on the compact EVs that are lined up for release in China. The basic goal is for a greater number of buyers in the Asian market to drive a Tesla EV. The release will be in the form of a city car and if the push will prove successful, the same will be deployed in Europe.

As mentioned, the initial production of the Tesla Model 3 hatchback will be in Europe and it has to be in Gigafactory Berlin. The building of the factory is now underway and is scheduled for completion in the second half of 2021. That should tell that mass assembly can only start in the last months of the same year.

When exactly the reimagined Model 3 is coming out remains unknown but the Tesla calendar should provide some hints. The Semi, the Cybertruck, and the Roadster are not expected to hit the road earlier than 2022 so the hatchback from Tesla will have to wait a few more years before the actual unveiling.