The Detroit automaker announced that it would offer its Model S sedan and electric vehicle to first-time buyers on Tuesday.

The carmaker has not said how much it will cost, but it said that it will provide the same financial backing for a second generation as it has for its $35,000, first-gen electric vehicle.

Tesla is now the third-largest carmaker in the United States, after General Motors and Ford, with a market capitalization of more than $2 trillion.

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