Tesla's big Model 3 reveal may feature a drivable version of the car

Tesla is gearing up for what may be its biggest debut yet - an entry-level, mass-market electric car known as the Model 3.

Much has been said about the upcoming $35,000 sedan, and the anticipation is no doubt bubbling over.

The looming reveal helped send Tesla shares up 40% in the last month.

Now that the invitations have gone out, some of the details have started to emerge.

A Bloomberg report suggests the Model 3 that we'll get glimpse of in a couple weeks will be a working, drivable prototype.

That could be a potentially significant development, since deliveries of the car are not expected until at least late 2017.

If Tesla actually lets people get in and drive the Model 3, that might suggest a production version of the car is closer than we think - and that would be a change for Tesla.

Despite the cult success the electric-car maker and its intrepid CEO have become, the company has a reputation for missing deadlines. The Model S luxury sedan - and the Model X SUV that followed - both rolled off the assembly line years behind schedule.

Tesla will start taking $1,000 deposits for the Model 3 on the night of the debut, March 31.