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Elon Musk Announces Tesla Model 3 New Base Variant on Twitter, Priced at $45,000

AFP Relaxnews

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. Before the reservation holders of the Model 3 with a standard battery pack even get their vehicle, Tesla has added a fourth battery pack option, changing the prices of the whole Model 3 portfolio.

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 car was launched. In response, the company promised an upcoming model with a standard battery pack that will remain faithful to the initial price promise.

Those who reserved the cheaper option, however, may find themselves frustrated because, instead of delivering customers the standard version, the brand brought out a fourth battery pack option now available for order: the mid-range battery pack which starts the model at $45,000 and can be delivered in 6-10 weeks.

This surprise option changes everything...about the prices. As Electrek noted, rear-wheel drive is now exclusive to the mid-range battery pack and the long-range pack was reduced to one powertrain option: dual motor all-wheel drive. The all-wheel drive powertrain returned to its previous value of $5,000 which brings the long-range Model 3 to $54,000.

Tesla Model 3

Tesla Model 3 comes with standard black paint.(Image: Tesla)

What exactly does this new battery pack provide? The range is an EPA estimated 260mi on a single charge, roughly 70 miles fewer than the most powerful performance model option. The top speed is reduced 30 mph from the performance model to 125 mph maximum, and you'd be able to reach 60 mph in 5.6 seconds instead of just 3.3.

The standard battery is expected to bring a range of 220 miles, a top speed of 130 mph, and a 0 - 60 time of 5.6 seconds. Basically, for $10,000 less, the standard battery model will only reduce the range by 60 miles. That is, if the prices don't shift again.