Tesla's Model 3 sedan will be unveiled in March, but won't hit the streets for more than two years.

CEO Elon Musk on Wednesday tweeted the news that Tesla's $35,000 vehicle is set for pre-orders in the spring. But the Model 3 cannot go into production until Tesla's Gigafactory is up and running.

Announced last summer in partnership with Panasonic, the $5 billion plant is under construction in Nevada, where it will employ 6,500 workers and produce 500,000 lithium-ion battery cells annually over the next six years.

At the same time, Musk confirmed plans for the Model 3, which will travel more than 200 miles on a single charge. And with a $35,000 price tag, the upcoming EV lands well under Tesla's luxury-focused Model S, which starts at $69,900.

If you can't wait until 2017 for a new, flashy electric car, Tesla's base Model S sedan is available with a 70-kilowatt-hour battery for $75,000—a boost from the previous $71,000 version, which boasted a 60-kilowatt-hour battery. The new configuration promises 15 percent more driving on a single charge, giving the Model S 70D a 240-mile range.

Tesla's Model X SUV, meanwhile, will arrive later this month. "First production cars will be handed over on Sept 29 at our Fremont factory," Musk tweeted last night. Those who have already reserved one can pass the time by customizing their ride via a new Tesla dashboard, which allows them to pick color, wheel size, and whether they want to spend an extra $10,000 on the Ludicrous Speed Upgrade.

With same options, Model X is $5k more than an S due to greater size & body complexity. Sig Series is fully loaded, hence high price. — Elon Musk (@elonmusk) September 2, 2015

The high-end car maker, meanwhile, has found a new fan: Oprah Winfrey, who shared photos of her new white Tesla on Instagram.