Tesla Says Report Of Model 3 Leak Based 'Purely On Speculation'

Shares of Tesla Motors Inc (NASDAQ: TSLA) were trading lower by around 1 percent Wednesday afternoon ahead of the much-anticipated unveiling of its Model 3 sedan.

Investors and auto enthusiasts need to wait until Thursday to find out details of the sedan, but Electrek was out with details it claimed to be leaked information on the new car.

See Also: Goldman Sachs: Tesla Model 3 Will Drive 5X Growth In Annual Deliveries By 2020

Electrek, citing "a source who has seen the design that will be shown off tomorrow," the Model 3 sedan "looks like a smaller hybrid of the Model X and S." The source added that the vehicle is "a bit taller sedan with a unique front."

Electrek added that its source claimed that the Model 3 has a 0-60 speed of under 4 seconds. The higher end Model 3 sedan could have a price tag in the $50,000 to $60,000 range but comes equipped with an AWD option and a battery that can last 300 miles per charge, it added.

In a comment to Benzinga, Tesla said, "per usual, Electrek reports purely on speculation and we don't comment on speculation."