Tesla Motors (Nasdaq: TSLA) was originally slated to unveil its Model 3 "mass market" electric vehicle at the Detroit Auto show in 2015. Well, that has since passed and the 2016 Detroit auto show (or, North American International Auto Show) is slated to commence this month.

However, Reuters noted Wednesday, citing an email from Tesla's Director of Global Communications, Khobi Brooklyn, that the company is "on schedule" to reveal the Model 3 in March. Sales are still slated to begin in 2017, with pre-orders commencing shortly after the unveiling.

Shares of Tesla are indicated lower after ending Wednesday's session down 2 percent.