Tesla has introduced its cheapest car to date, the Model 3 electric car.
The price and range of the five-seater should make the Model 3 attractive to new types of customers and could increase interest in other electric cars.
Tesla CEO Elon Musk said his goal is to produce about 500,000 cars a year once production is at full speed.
The company needs the new car to be popular if it wants to stay in business.
The first deliveries of the Model 3 should start at the end of 2017 and can be ordered in advance in dozens of countries.
The base model will start at $ 35,000 and will have a range of at least 215 miles per charge.
In 2015, Tesla delivered 50,580 cars. Most of them were his Model S sedan, which overtook the Leaf and became the best-selling pure electric vehicle in the world.
However, Tesla still reported a net loss of $ 889 million in 2015, in part because it spent $ 718 million on research and development during the period.
That left Tesla with $ 1.2 billion in cash reserves from $ 1.9 billion a year earlier.