Tesla Starts Offering $45K Model 3

Tesla Model 3

Tesla Model 3

Buyers of the Mid-Range Model 3 will only be able to opt for rear-wheel drive, as the dual-motor, all-wheel drive option is limited to the Long-Range and Performance variants.

Model 3. Image source: Tesla. The total cost for the technology was $9,000 at the time of purchase, or $10,000 if you chose to upgrade after buying the vehicle.

The only available Model 3 for the past year has been a long-range version, offered mostly at luxury prices.

Along with the announcement of its mid-range Model 3, Tesla also rolled out a few changes to its current product lineup.

Tesla says the "standard battery" version will not be available for another 4 to 6 months. Tesla claimed that full self-driving capabilities would be released to the cars via over-the-air updates following software development and regulatory approval, which has yet to happen. Now customers can only purchase the company's driver-assist system, Enhanced Autopilot. For more on the new-low cost vehicle from Elon Musk and Tesla, visit the company's website. 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.

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Tesla has reshuffled its Model 3 lineup and is now offering the cheapest version yet, but it's still $10,000 more than the long-promised $35,000 entry-level vehicle.

Musk said on Twitter in May that if the company shipped the $35,000 version right away, Tesla would "lose money [and] die".

What this means for the hundreds of thousands of people who pre-ordered the entry-level Model 3 is that they will have to wait until at least February before deliveries commence.

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 cheaper "standard-range" Model 3 is still absent from the new, simplified ordering page, and the company has made no secret of the fact that it can not afford to lose money selling the cheaper cars, no matter the demand. The Motley Fool has a disclosure policy.

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