Tesla announces cheaper Model 3, but it's still not $35,000

Adjust Comment Print

The vehicle will offer a driving range of 260 miles, which is about 50 miles lesser than the long-range battery variant.

Earlier this week Tesla revealed a freaky new referral programme that rewards owners by sending an image of their choice "etched in glass" to deep space.

Tesla unexpectedly announced a mid-range battery option for the Model 3, bringing the price of the vehicle down to $45,000 and completely changing the pricing structure. This is not the long-awaited $35,000 version, however; the mid-range Model 3 starts at $45,000. The mid-range version will cost $45,000 as against the $49,000 of the earlier vehicle. A report that claimed that, at the time, over 35,000 Tesla owners opted to pay the additional fees for the "Full Self-Driving" option. Now customers can only purchase the company's driver-assist system, Enhanced Autopilot. CEO Elon Musk recently noted that focusing on the cheaper auto first would cause Tesla to "die," because it's not profitable to make.

Angela Merkel to halt Saudi arms sales after Jamal Khashoggi's death
The king offered his condolences in a telephone call made by him to Mr Jamal Khashoggi's son, Mr Salah Jamal Khashoggi . During an interview with Fox News , Saudi Arabia's Foreign Minister Adel al-Jubeir said: "These things do happen".

The midrange model is basically a long-range model with fewer cells in its battery pack, offering slightly slower acceleration and a lower top speed compared to the long-range model: a 0-60 miles per hour sprint takes 5.6 seconds instead of 4.5 seconds, and top speed is 125 miles per hour instead of 145. Until this week, Tesla had indicated a version with a smaller battery wouldn't go into high-volume production until the first quarter of 2019.

Tesla previously promised that the Model 3's base price will start at $35,000, but drivers were disappointed with the $49,000 price tag that was revealed when the auto was launched. This new mid-range version of the Model 3 gives Tesla a way to lower the vehicle's price slightly while expanding its addressable market to a wider audience. However, Tesla's ambitious $35,000 base version is nowhere to be seen due to production issues.

The release of a lower-priced Model 3 was a "logical next step", according to Evercore ISI analyst Arndt Ellinghorst.

Donald Trump threatens to shut US-Mexico border unless migrant caravan stopped
Immigration is the "most important" 2018 midterm issue for Republican voters, according to a national survey released on Thursday. Current Foreign Relations Secretary Luis Videgaray was also sanguine and viewed things through the lens of USA politics.

Owners wanting to send their photos to space will need to upload the desired snap onto the Tesla mobile app before December of this year.

The Model 3 is Tesla's first lower-cost, high-volume vehicle. The Motley Fool owns shares of and recommends Tesla.

Liverpool fans are going wild as Harry Wilson does it again
After a drab first half at the Aviva Stadium, Wilson needed no second invitation when Harry Arter needlessly fouled Connor Roberts on the edge of the Irish area.