The Model 3 is Tesla’s most important electric car yet, promising a sleek design and high-tech features at an affordable price. But the company could have something even better coming in the future, assuming its current plans work out.

Speaking in Norway during a recent transportation conference, Tesla CEO Elon Musk hinted at plans for a fourth-generation car that anyone can afford to buy.

“With something like the Model 3, it’s designed such that roughly half the people will be able to afford the car,” Musk said. “Then, with fourth generation and smaller cars, we’ll ultimately be in the position where everyone will be able to afford the car.”

Tesla actually offers four cars already (including the recently revealed Model 3), but the company’s Model S and Model X are often lumped together as 2nd-generation vehicles following the first-generation Roadster. That would make this upcoming smaller EV the fourth-generation model.

Before Tesla can get started on this mysterious new vehicle, it will have to actually manufacture and ship the Model 3. The company’s already racked up about 400,000 reservations for the $35,000 car, but whether it can actually meet that demand within a decent timeframe remains to be seen.

Check out the full video from Musk’s appearance below. The relevant part starts at around 12 minutes in.