Tesla announces a cheaper, midrange version of the Model 3

Tesla announces a cheaper, midrange version of the Model 3

Of course, the version that Tesla is promising will go into high-volume production next year is an even cheaper $35,000 variant with only 220 miles of range. Musk stated that the auto: "Costs $35k after federal & state tax rebates in California, but true cost of ownership is closer to $31k after gas savings".

Tesla said it has used the same battery pack as the long-range version with fewer cells for the mid-range version. CEO Elon Musk recently noted that focusing on the cheaper vehicle first would cause Tesla to "die," because it's not profitable to make.

The announcement of the midrange model came with no early warning or indication that this model was being added to the lineup, catching Tesla watchers by surprise. This is not the long-awaited $35,000 version, however; the mid-range Model 3 starts at $45,000. And if you decide to upgrade any of this later, by the way, it would cost you an extra $1,000.

The introduction of the mid-range has seen the option of rear-drive removed from the Long Range model, which is now only available with the all-wheel drive, dual-motor drivetrain.

The $45,000 Model 3 will also lack advanced Autopilot functionality, which would cost another $5,000, and will stick to rear wheel drive as opposed to the all-wheel-drive option for the mid-range.

More news: Virat Kohli, Rohit Sharma bat like they are playing PS4: Yuzvendra Chahal

After 200,000 units, Tesla must phase out the tax credit.

The new version has a delivery period of six to 10 weeks, according to the website, which would customers eligible for the current $7,500 US tax credit if they take delivery by the end of the year.

It is not clear how numerous more than 400,000 reservations for the Model 3 are for the base models. That's great, and as Wired noted in its article about the new Model 3, this might very well be to Tesla what the iPhone XR is to Apple. Right now, these models begin around $55,000-$65,000, a far cry from the $35,000 starting price Tesla originally promised for its small sedan.

The midrange Model 3 should be welcome news for those who can't afford to shell out upward of $60,000 for an electric auto.

Related Articles

  • Trump accuses Saudis of 'lies' over Khashoggi killing

    Trump accuses Saudis of 'lies' over Khashoggi killing

    In a statement Sunday, the governments said attacks on journalists were unacceptable and "of utmost concern to our three nations". They said the "hypotheses" proposed so far in the Saudi investigation need to be backed by facts to be considered credible.
    Toddler abandoned on stranger's doorstep

    Toddler abandoned on stranger's doorstep

    In one hand, she holds two bags, and in the other, she grips the hand of a 2-year-old boy with his feet off the ground. The Montgomery County Sheriff's Office says the woman could be charged with felony child endangerment.
    Trump Threatens Military Action If Mexico Doesn't Stop Migrant Caravan

    Trump Threatens Military Action If Mexico Doesn't Stop Migrant Caravan

    It's important to remember that for Mexico, migration isn't just about people coming into the country, Salazar says. Members of the caravan appeared unlikely to wait for the United Nations or for border crossings to be reopened.
  • Urban Meyer, Dwayne Haskins Talk Loss To Purdue

    Urban Meyer, Dwayne Haskins Talk Loss To Purdue

    The question now for the Buckeyes is, where do they go from here? "It was wonderful ", running back D.J. Knox repeated the trick minutes later, again going 40 yards without a single Buckeye defender in sight.
    Treasury employee accused in leak linked to Mueller’s probe

    Treasury employee accused in leak linked to Mueller’s probe

    At a brief court appearance in Alexandria, she was released on $100,000 bond and instructed to appear next month in court in NY . On their own, suspicious activity reports often do not mean very much.
    Sadio Mane injury update

    Sadio Mane injury update

    Mane underwent an operation on Wednesday on his fractured thumb , sustained during Senegal's win over Sudan on Saturday. Sadio Mane has joined Mohamed Salah and Virgil Van Dijk in picking up injuries while on worldwide duty.
  • Samsung Galaxy Tab S4 with Dex support launched at Rs 57,900

    Samsung Galaxy Tab S4 with Dex support launched at Rs 57,900

    The Tab S4 comes with three accessories complementing it - Keyboard Book Cover, Book Cover and Pogo Charging dock. Samsung says it also has infrared cameras for facial recognition, but I wasn't able to try it.
    Bettel says United Kingdom  must 'take decisions now' on Brexit

    Bettel says United Kingdom must 'take decisions now' on Brexit

    But EU chiefs indicated it could be extended when they met at the European Council summit this week in Brussels. Lithuanian president Dalia Grybauskaite claimed the Prime Minister didn't have a "strong mandate".
    Duke in the NBA: Lakers exercise option on Brandon Ingram

    Duke in the NBA: Lakers exercise option on Brandon Ingram

    LeBron James speaks to the media about his debut with the Los Angeles Lakers , a 128-119 loss to the Portland Trail Blazers . The 33-year-old signed a four-year deal with the Lakers in the summer, earning a reported $154m (£118.2m ) over the term.
  • Andreas Pereira: 'Manchester United pumped up for Juventus clash'

    Andreas Pereira: 'Manchester United pumped up for Juventus clash'

    The Portuguese striker fired Juventus in front in the 18th minute after a communication mix-up by the Genoa defence. That effort put Ronaldo 10 goals ahead of Lionel Messi's tally of 390 goals scored in Europe's main leagues.
    Verizon temporarily removes SIM locks from Pixel 3 and Pixel 3 XL

    Verizon temporarily removes SIM locks from Pixel 3 and Pixel 3 XL

    That's not necessarily a bad deal if you can activate the new Pixel phone on Verizon first. Apparently, the "6.3-inch QHD+ Flexible OLED is a Samsung working".
    Justice Dept. charges Russian woman with interference in Midterm elections

    Justice Dept. charges Russian woman with interference in Midterm elections

    It is believed to be the first federal case alleging Russian interference in this year's election. US officials have warned repeatedly about foreign attempts to influence the 2018 Midterms.