Home » Money

Tesla Starts Offering $45K Model 3

20 October, 2018, 03:23 | Author: Melinda Barton
  • Tesla Model 3

Tesla chief Elon Musk said late Thursday that the automaker was preparing to sell the cheapest version yet of its newest electric auto, the Model 3, signalling an attempt to get back to business after months of controversy. Tesla also likes to point out your gas savings, which amount to $4,300 over six years for the mid range Model 3.

While the true entry-level Model 3 has yet to arrive-that's the vehicle former CEO Elon Musk has promised would cost $35,000 and deliver 220 miles of range-this mid-spec, rear-wheel-drive version achieves 260 miles of EPA-estimated range.

Adding the mid-priced version of the Model 3 appears to be a strategic way to lure possible buyers who had been waiting for the lower-priced version.

But Tesla says it's able to build these slightly cheaper cars by using the same battery pack as the more expensive, longer-range cars but with fewer cells inside.


Tesla has not said if customers who have already purchased cars with the option will be offered any type of compensation. The long-range rear-wheel-drive auto will be available "off menu" for several days. By this time, Tesla vehicles will no longer be eligible for the full $7,500 federal tax credit as it will be reduced to $3,750 starting January 1st, 2019.

Musk said Tesla has set up a new web page to take orders for the lower priced Model 3.

The surprise announcement, delivered via tweet to Musk's 23 million followers, comes as Tesla seeks to steer attention away from a chaotic period in which Musk battled with critics, smoked marijuana during an interview and pledged that he had the money to take Tesla private - a promise for which he was sued by the Securities and Exchange Commission, and which he recently settled.

Along with the mid-range option release, Tesla has altered its entire pricing structure for the Model 3 - both of which were unexpected. Delivery is promised within 10 weeks of your order being placed. Chief Executive Officer Elon Musk tweeted late Thursday that the feature "was causing too much confusion". The all-wheel drive powertrain returned to its previous value of $5,000 which brings the long-range Model 3 to $54,000.

Recommended:

  • Google launches Pixel 3, Pixel 3 XL in Taiwan

    Google launches Pixel 3, Pixel 3 XL in Taiwan

    As for Pixel 3 XL , the 64GB and 128GB storage model can be pre-ordered at Rs 20,000 and Rs 29,000 respectively. However, the new development seems like their deal is officially closed, at least for Google Pixel devices.
    Fox Business Pulls Out of Saudi Conference, Citing Khashoggi Controversy

    Fox Business Pulls Out of Saudi Conference, Citing Khashoggi Controversy

    Reports earlier this week had suggested the Saudis were preparing to admit that Mr Khashoggi had died in a botched interrogation. On Thursday, Pompeo said he advised President Trump to give Saudi Arabia "a few more days" to complete the probe.
    Putin probably involved in assassinations but not in US

    Putin probably involved in assassinations but not in US

    I'm the one that gave Ukraine offensive weapons and tank killers. But I will tell you, I have no intention of doing that.
  • Prince Harry, Meghan expecting child in spring

    Prince Harry, Meghan expecting child in spring

    Harry and Meghan had just touched touched down in Australia for their first overseas tour as a married couple when the news broke. When she met Harry and she spoke about how much she loves him... there's got to be a child in the making there soon.
    Trump rival takes up DNA test challenge - global

    Trump rival takes up DNA test challenge - global

    The Boston Globe said the test revealed the potential for a Native American ancestor in her family tree six to 10 generations ago. Warren, took the rare step of sharing DNA test results examining her long-challenged Native-American bloodline.
    Usain Bolt expresses disappointment after being summoned for doping test

    Usain Bolt expresses disappointment after being summoned for doping test

    Bolt remains a trialist with the Mariners, rather than a contracted player. "They would get something good out of it, yeah", the Sunrise correspondent replied.
  • At least 50 dead in India train disaster

    At least 50 dead in India train disaster

    Railway minister Piyush Goyal said Friday he was cancelling his trip to the USA and returning to India immediately. At least 300 people were at the spot watching "Ravana dahan " at a ground near the tracks.
    Israeli defense minister: Now's the time to strike Hamas

    Israeli defense minister: Now's the time to strike Hamas

    Israel views the protests as riots and says its response is a justified defense of Israeli civilians living in the Gaza periphery. The Israeli army registered a rocket launch from the Gaza Strip that resulted in a siren in the city of Beersheba going off.
    Trump says 'rogue killers' could be behind Khashoggi disappearance

    Trump says 'rogue killers' could be behind Khashoggi disappearance

    However, it remained unclear what evidence, if any, would remain after almost two weeks since Khashoggi's disappearance. The Saudi government, it said, would shield the prince by blaming an intelligence official for the botched operation.
  • Woman abandoning toddler on doorstep

    Woman abandoning toddler on doorstep

    Please share with your family and friends and help us locate this woman and identify the child and reunite him with family. Spencer said the woman is facing a third-degree felony charge of child abandonment and has yet to be taken into custody.
    Chinese City Wants to Launch Fake Moon to Illuminate Its Streets

    Chinese City Wants to Launch Fake Moon to Illuminate Its Streets

    There's also been some very real concern that the mirror's never-ending glow could seriously impact natural cycles of animals. The man-made moon will have a coating that can reflect light from the sun with solar panel-like wings.
    The Queen's Reaction to Meghan Markle's Baby News Is So Sweet

    The Queen's Reaction to Meghan Markle's Baby News Is So Sweet

    Another photo shows Princess Eugenie and Brooksbank with their respective families, their bridesmaids, and their page boys. Mr Trump wrote on Twitter on Sunday: " Princess Eugenie of York was a truly attractive bride yesterday".


Popular

Theresa May ready to extend Brexit transition by 'matter of months'
Tusk says "what I feel today is that we are closer to the final solutions and the deal". Mr Barnier said that problems over Ireland could lead to the failure of Brexit talks.

Manhunt in Crimea for possible accomplice in school attack
He was captured on security camera footage and later found dead with gunshot wounds. Military units were deployed around the college to help emergency agencies.

Elizabeth Warren hits back at Donald Trump by releasing DNA test
That study found that the average white person in America is roughly.19% African and.18% Native American. Warren, meanwhile, also took to Twitter , saying Trump "fumbled and lied on your $1 million pledge".

Youtube is Back! Online Video Portal Restores Services After Major Outage
ET, the account tweeted , "We're back!" The company said it was working on the issue and apologized for the inconvenience. If you continue to experience issues, please let us know: Team YouTube wrote on its official twitter handle.

Fan interference wipes out possible homer for Altuve in ALCS
The 35-year-old entered the day 4-0 with a 1.15 ERA over his last four postseason starts in which his team faced elimination. The score stayed that way until the top of the sixth, when Verlander allowed a double to Mitch Moreland to start the inning.

Baby Bump Alert! First Pics of Meghan Markle After Pregnancy Announcement
Meghan and Harry will meet youth leaders at the reception, including those from The Man Cave and This Girl Can initiatives. They also brought gifts - home-made banana bread and a solid drenching of rain to the drought-stricken region.

What's known about Saudi journalist's disappearance?
Congress, which has long had a testy relationship with Saudi Arabia, have issued strong criticism of the kingdom over the case. Trump tweeted Monday that he had spoken with the Saudi king, "who denies any knowledge" of what happened to Khashoggi.

Sadio Mane: Liverpool forward has hand surgery
However, he played well in Belgium's 1-1 draw with the Netherlands this week, when he was selected ahead of usual starter Thibaut Courtois.

Brexit talks in crisis over Irish border ahead of crunch summit
This idea is ridiculed by the DUP, which insists that Northern Ireland must be treated the same as the rest of the UK. The Irish border issue remains unsolved.

Astros Bring Split ALCS Home to Houston
HOUSTON - Dallas Keuchel appreciates the value of a good bullpen - as long as it doesn't get in the way of him doing his own job. This kind of stretch isn't unprecedented during Craig Kimbrel's time with Boston, but that makes it no less disconcerting.