But that price takes into account federal and state tax rebates. Given previous Model 3 editions were selling for as much as $86,000, and that its luxury Model S and X cars go for well over $100,000, it's likely that more budget conscious Tesla fans will be eager to jump on the new opportunity to own a cheaper Model 3.
The company has long promised the Model 3 would be its vehicle for the masses, but it originally focused on building premium versions of the auto while it struggled to ramp up factory production. Musk has said the company, a cash-burning giant that faces billions of dollars in impending debts, must push out more profitable and expensive versions first: Shipping the cheapest "Model 3 right away (would) cause Tesla to lose money & die", he tweeted in May. But in California, it will cost $US35,000 after federal and state tax rebates, Musk said.
Tesla is promising deliveries in four to eight weeks. 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.
While the new Model 3 has a shorter range, rear-wheel drive and a slower top speed, Tesla succeeded in slashing $4,000 off of the price.
However, Tesla is promoting the auto as costing as little as $30,700 by factoring in "gas savings" and all possible federal and local electric vehicle tax incentives (but not the destination charge).
As with other Model 3 versions, Tesla hasn't revealed a precise battery capacity; but if it corresponds to range, this battery pack would factor in at about 63 kwh. Any new Tesla delivered after January 1st 2019 (but before July 1st 2019) is only eligible for a $3,750 IRS credit.
That long-awaited price point may still be another few months away, Musk suggested in a post on Thursday describing the mid-range Model 3. The Model 3 Performance, for example, has a base price of $US64,000 before any options are added - and that's before the tax incentives, but it also doesn't include features like the company's "Autopilot" driver-assist system, which many customers choose to add on.