At the end of March there was a bit of buzz about the Tesla Model E, but since then the activity has died down. Elon Musk announced the Model E give some projections and left it at that. Now we have to wait for what leaks we can get, when we can get them. But so far the specs look promising.
You can expect the Model E to arrive in 2016, shortly after the release of its much larger brother the Model X (a cross-over SUV). What is known so far about the E is that it will be about 20% shorter in length than the S, have about half the battery capacity (48 kWh), and cost less than half as much ($35k).