Tesla announces a cheaper, midrange version of the Model 3

Ivan Schwartz
October 19, 2018

Musk has promised a version of the Model 3 with a base price of $35,000, which has yet to be realized.

But that price takes into account federal and state tax rebates.

The company has long promised the Model 3 would be its vehicle for the masses, but it originally focused on building premium versions of the auto while it struggled to ramp up factory production.

While the automaker has battled production problems with Model 3 vehicles, in the third quarter Tesla said it produced 80,142 vehicles, of which 53,239 were Model 3 sedans. The base price will be $US45,000. But Musk said a "truer cost of ownership" for the midrange version would be about $31,000, his estimate for discounting the cost of gas.

Tesla has been dogged by delay and delivery issues in the past.

The new midrange version of the Model 3 has a single motor and rear-wheel drive, and a battery pack that will go around 260 miles on a charge.

The long-range variant has a range of 310 miles with a top speed of 145mph.

With the arrival of the Model 3 Mid Range model, Tesla will no longer sell the rear-wheel drive Long Range version.

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As with other Model 3 versions, Tesla hasn't revealed a precise battery capacity; but if it corresponds to range, this battery pack would factor in at about 63 kwh.

To date, the company had only been offering more expensive versions of the vehicle.

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

It's been two and a half years since Tesla CEO Elon Musk announced the Model 3, the company's budget-minded electric sedan with a promised starting price of just $35,000.

As for the actual $35,000 Model 3, the vehicle will be referred to as the Model 3 Standard Range and should have 220 miles of range. Musk promised that even a base auto would be very well equipped. Musk has said that the company plans to offer a version of the vehicle that will have a base price of just $US35,000 before any tax incentives.

The cheaper "standard-range" Model 3 is still absent from the new, simplified ordering page, and the company has made no secret of the fact that it can not afford to lose money selling the cheaper cars, no matter the demand. The mid-range battery model, which has an estimated battery range of 418 kilometres, is now available to order in Canada and the U.S. ($45,000 USD).

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