Tesla launches new $45,000 Model 3

Tesla launches new $45,000 Model 3

Tesla is introducing a lower-priced version of its Model 3 sedan.

Although Tesla has promised a base-level version of the Model 3 priced at $35,000, so far it has only produced higher-cost versions starting at about $49,000.

Tesla is finally offering a less expensive version of its Model 3 electric vehicle. Tesla's CEO announced on Twitter that the company is releasing a mid-range Model 3 that will start at $45,000. But in California, it will cost $US35,000 after federal and state tax rebates, Musk said.

That will require you ordering it early enough to have it delivered before the end of the year, as that is when Teslas are no longer applicable for the $7,500 federal EV tax credit.

The mid-range Model 3s will be rear-wheel drive only, prompting some to wonder if the company was using software to limit battery capacity on existing RWD inventory in order to get it out of the door. A dual motor, all-wheel drive version with a long-range battery (310 miles) starts at $54,000.

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.

It's a long range battery with fewer cells.

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

What will arrive in as little as six weeks, and be available in the US and Canada, is called the Model 3 Mid Range.

In addition to these changes, Tesla is temporarily removing the $3,000 Full Self-Driving option from all of its models, which it said prepared them for autonomous driving capability when the software is available to make it work. However, Tesla's ambitious $35,000 base version is nowhere to be seen due to production issues.

Even the new version, though, doesn't fulfil the company's promises.

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). Although he's promised that Model 3 will be out by the end of this year, some auto industry experts are dubious he'll deliver. On Jan 1. 2019 the tax credit for these electric cars will be cut in half.

The Model 3 was intended as a way to bring the luxury electric vehicle to the average consumer.

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