Tesla CEO Elon Musk just introduced a 'lower-cost, mid-range' Model 3 via Twitter

Key Points
  • Elon Musk announced on Twitter that the company is now selling a new lower-priced version of its Model 3 vehicles.
  • The new Model 3 variant has a sticker price of $45,000.
  • The company has previously said the lowest-cost Model 3 will start at $35,000.
Tesla CEO Elon Musk just unveiled a cheaper Model 3

Tesla CEO Elon Musk announced on Twitter that a new variant of the company's Model 3 electric sedan is going on sale today.

He wrote, "Costs $35k after federal & state tax rebates in California, but true cost of ownership is closer to $31k after gas savings."


On the company's website, this Model 3 has a base $45,000 sticker price, but is advertised as costing $30,700 after estimated savings, which includes incentives and gas savings. It will have an estimated range of 260 miles.

In a statement, Tesla told CNBC, "As Model 3 production and sales continue to grow rapidly, we've achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers. Our new Mid-Range Battery is being introduced this week in the U.S. and Canada to better meet the varying range needs of the many customers eager to own Model 3, and our delivery estimate for customers who have ordered the Standard Battery is 4-6 months."

Musk tweeted that this Model 3 uses a battery with fewer cells than those included in Tesla's prior versions of the electric sedan.


Tesla has promised the lowest-spec model of the Model 3 will be available at a purchase price around $35,000. It has yet to offer this low-cost model.

In its last vehicle production and deliveries report, Tesla said it produced 53,239 Model 3 vehicles in the third quarter, in line with its guidance.

Correction: The initial version of this story misstated the lowest sticker price for the new model. It is $45,000.

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