Tesla Announces $45,000 Mid-Range Model 3

20 October, 2018, 03:25 | Author: Manuel Hopkins
  • Tesla Model 3

According to the website, the rear-wheel-drive model has a "mid range" battery, a range of 260 miles, 50 miles less than the long-range battery that the more expensive Model 3 is equipped with.

Tesla added a new electric auto to its lineup Thursday - well, sort of.

The only available Model 3 for the past year has been a long-range version, offered mostly at luxury prices.

Tesla unveiled a new, cheaper version of its Model 3 sedan - but it still isn't priced like the affordable, mass-market vehicle that the company originally promised.

There's an extra incentive to order a Tesla now rather than waiting.

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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. It's likely that some Model 3 customers who pre-ordered the $35,000 Model 3 in early 2016 won't benefit from any tax credit as a result.

Buyers of the Mid-Range Model 3 will only be able to opt for rear-wheel drive, as the dual-motor, all-wheel drive option is limited to the Long-Range and Performance variants. Tesla says delivery for the new mid-range Model 3 should take six to 10 weeks. That could be for regulatory reasons, but it's now unclear.

"As Model 3 production and sales continue to grow rapidly, we've achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers".

Elon Musk unveiled his latest creation - Tesla Model 3 to a crowd of fans packing the company's LA Design Studio on Thursday with a promise that the new electric auto will cost $35,000, accelerate to 60 miles an hour in under six seconds and run without recharging for at least 215 miles, pursuitist.com reported. It's priced at $45,000, but Tesla notes that with first deliveries of it made before the end of the year, it will be eligible for both the $7,500 federal EV tax credit and a California incentive of $2,500-bringing the price down to that magic $35k number there, and perhaps below that in some places. "Our new Mid-Range Battery is being introduced this week in the US and Canada to better meet the varying range needs of the many customers eager to own Model 3".

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