Tesla introduces a $45,000 Model 3 variant with a 260-mile range

In a surprise announcement, Elon Musk launched a mid-range model of Tesla 3 with a range of 260 miles. The new version is now the cheapest available variant of Tesla 3 priced at $45,000.

Just released lower cost, mid-range Tesla Model 3 & super simple new order page https://t.co/cz0TQn7IOZ

— Elon Musk (@elonmusk) October 18, 2018

The long-range variant has a range of 310 miles with a top speed of 145mph. The mid-range variant, on the other hand, has a range of 260 miles with a top speed of 125mph. The car goes from 0-60 in 5.6 seconds as compared to 4.5 seconds for the long-range variant.

Tesla 3 model has been available for $49,000 with a long-range battery and no options for over a year. However, Tesla’s ambitious $35,000 base version is nowhere to be seen due to production issues.

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The change in price structure means the long-range version has only All Wheel Drive (AWD) option and costs $54,000. Musk said that the long-range version with Rear Wheel Drive (RWD) costing  $49,000 will be available to order as an off the menu item for a week. So if you’re interested in that, you better hurry up and order now.

Tesla said it has used the same battery pack as the long-range version with fewer cells for the mid-range version. The company expects to deliver the base version starting next year:

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.

We hope the company delivers on its promise this time.