Tesla Motors will show a working prototype of its more affordable Model 3 on March 31, several outlets are reporting.

Tesla said the $35,000 car will be shown at the Tesla Design Studio in Hawthorne, Calif., reports Bloomberg.

Tesla announced the unveiling with invitations to current Tesla owners and the media that included a teaser image that featured a silhouette of the vehicle.

Tesla has described the vehicle as being approximately 20% smaller than the Model S, with a release date tentatively scheduled for late 2017.

Tesla will take reservations at its showrooms on the day of the vehicle's unveiling with a $1,000 deposit required, reports Cnet.com. Tesla CEO Elon Musk has said engineers have been able to design the Model 3 more efficiently by making its build simpler than the Model S and Model X.