$35,000 Tesla Model 3 is Finally Available, at Long Last

$35,000 Tesla Model 3 is Finally Available, at Long Last

$35,000 Tesla Model 3 is Finally Available, at Long Last

"This is something we've been working on since we created the company, from the beginning this has been the goal", said chief executive Elon Musk.

In a series of tweets to his 25 million followers following charges from the US Securities and Exchange Commission earlier this week, Musk accused the regulator of failing to read Tesla's annual reports and said its oversight was "broken". The base model, as evidenced below, has 220 miles of range.

Coinciding with the Model 3 Standard Range reveal, Musk also announced that Tesla is shifting to online sales only. This is a significant milestone for Tesla, the culmination of years of hard work by employees across the company, and something of which you should all be very proud.

The Standard Range Plus can scoot from 0 to 60 miles per hour in just 5.3 seconds and hit a top speed of 140 miles per hour.

The Standard Range Plus, which will cost $37,000 (£28,000), features 240 miles of range, a 140mph top speed, and a 0-60mph time of 5.3secs. Pre-orders are now open.

"We need to assess how many reservation holders wish to buy [the new cars}", he said, per The Verge, adding that this is the lowest sticker price buyers will see for "at least two to three years".

"Although lower in cost, it is built to achieve the same flawless 5-star safety rating as the longer-ranged version", Tesla said. It also has a better interior than the Standard Range Model 3 with adjustable seats, better materials and upgraded audio.

In effort to keep costs low, the firm now says it will be shuttering many of its U.S. brick-and-mortar locations. All Tesla's will now only be available for online order.

Further, to support the lower-cost Teslas, the company has made a decision to shift all of its vehicle sales online over several months.


"Electric vehicles now make up only about 2 per cent of global sales, and while we believe that number is likely to grow, we believe there is an education process that is crucial for new customers around charging, range, and other features that are unique to Tesla that will not be as readily available without the in-store experience".

In addition, the firm had some news for its existing customers.

The two new Model 3 variants are available to buy now in the US, with global sales set to start in around three to six months.

Tesla shares fell as more than 6 per cent to less than US$300 in early trading, the biggest drop since mid January.

The real question is, can Tesla make a profit selling a vehicle at $35,000?

He is now called Elon Tusk on the social network and has a nice little elephant emoji next to his name.

Tesla's also using one of Old GM's tricks - decontenting vehicles - to hit the price it promised.

That settlement between Musk, Tesla and the SEC concerned Musk's August Twitter post in which he claimed to have "funding secured" to take Tesla private at $420 per share. The stock had run up more than 7 per cent in the past two sessions since Musk teased the announcement through cryptic tweets that fueled rampant speculation.

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