Tesla offers $25,000 guarantee on second hand cars

The second-best-selling electric car maker in the US is offering a $25 a month guarantee on its second-generation Tesla Model S electric sedan.

Tesla said Tuesday that it was launching a second-grade version of the Model S sedan at its Fremont, California, factory.

That model, called the Model 3, is expected to debut in early 2017.

The automaker said it would not disclose the price.

Tesla said the $25 guarantee would only apply to the first generation Model S, which will have a higher starting price.