Tesla’s Newest, Cheapest Model 3 Sedan Is Coming

Adjust Comment Print

Tesla unexpectedly announced a mid-range battery option for the Model 3, bringing the price of the vehicle down to $45,000 and completely changing the pricing structure. In response, the company promised an upcoming model with a standard battery pack that will remain faithful to the initial price promise.

The base price will be $US45,000; it will cost about $US35,000 in California after federal and state tax rebates.

Tesla Inc on Thursday introduced a new $45,000 version of its Model 3 sedan on its website, launching the auto as US tax breaks for Tesla cars are about to decrease.

However, Tesla is promoting the auto as costing as little as $30,700 by factoring in "gas savings" and all possible federal and local electric vehicle tax incentives (but not the destination charge). A version wit a "standard battery", Tesla says, will be available within 6 months. Given previous Model 3 editions were selling for as much as $86,000, and that its luxury Model S and X cars go for well over $100,000, it's likely that more budget conscious Tesla fans will be eager to jump on the new opportunity to own a cheaper Model 3.

Priced from $45,000, the new variant uses the same battery as the Long-Range Model 3 but has fewer cells.

Kate Upton Rips MLB, Umpires for Questionable Call in Astros Game
This time he hit a two-run home run in the top of the sixth inning to give Boston the lead for good. But the playoffs are all about matchups and Price has always matched up well with the Astros.

The Mid Range comes with a single motor and rear-wheel drive whereas the Long Range and even pricier Model 3 Performance now come with dual motors and all-wheel drive exclusively.

The Model 3 is a four-door compact sedan that can seat up to "five adults comfortably, and the word comfortably is the key", Musk said. For example, NY offers a further $2,000 incentive, dropping the price down to $35,500. But Tesla has struggled to ramp up production on the Model 3 and initially focused on making the higher-end versions.

Musk said on Twitter in May that if the company shipped the $35,000 version right away, Tesla would "lose money [and] die".

Hitting that price target is important, because the federal tax incentives - worth up to $US7,500 per vehicle - are due to start dwindling in January. Consequently, its range is down from 310 mile (498 km) to 260 miles (418 km).

Site highlights each day to your inbox.

Comments