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(CNN) Audi revealed its new Q4 E-Tron electric SUV Wednesday -- the company's cheapest electric model, with a starting price of $45,000.
With US federal electric vehicle tax credits, that means it should effectively cost $37,500 in its least expensive version.
That's slightly less than a Tesla Model 3 sedan and much less than a Tesla Model Y SUV.
While there are more luxury electric crossovers entering the market few, so far, cost nearly as little as the Q4, which is priced similarly to the Ford Mustang Mach-E .
The Audi Q4 E-Tron will be Audi's entry-level electric SUV.
Audi isn't revealing the prices for the more expensive versions of its new SUV yet, though.
Those details will come closer to when the Q4 E-Tron goes on sale by the end of this year.
The entry-level Q4 E-Tron will have rear-wheel-drive, not all-wheel drive, though more expensive versions will have all-wheel-drive.)
The least expensive model will be able to go about 250 miles on a charge, according to the German luxury brand.
More expensive all-wheel-drive versions, which will have electric motors in the front and back of the vehicle, will be able to produce up to 295 horsepower.
A slightly squared-off steering wheel will be optional on the Audi Q4 E-Tron.
The Q4 E-Tron will be available in two slightly different body shapes, a regular crossover SUV and the Sportback version.
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