The Tesla Model 3 will cost £30,000 or less in the UK, CEO Elon Musk has revealed.

Musk shared the pricing detail during the Prince's Trust Leadership Dinner tonight.

Its US tag of $35,000 was already announced, but this is the first time we've heard a UK price for the new electric vehicle.

We know a few bits about the Model 3, which will officially be unveiled in March ahead of deliveries beginning in 2017. It's expected to have a range of 321km or so. Pre-orders will begin after its reveal.

Less expensive than the Model S, the Model 3 is about 20% smaller, too, but will come in both sedan and crossover models.

Hitting the road in a Mercedes-Benz S550