The Tesla Model 3, touted as the “affordable” Tesla, has received another pricing restructure. The newest restructure adds a lower-powered battery and alters the powertrain options on different batteries. Notably, the promised $35,000 configuration has still yet to surface.
Tesla Model 3 Mid-Range Battery
The new battery option is a mid-range battery that starts at $45,000 before incentives. This battery is confirmed by Tesla to have fewer cells than the existing long-range battery. That means that, unlike prior expectations, the mid-range battery isn’t a software-locked long-range battery. The mid-range battery has some 260 miles of juice at a full charge.
When the Model 3 first launched, it was with the $49,000 long-range battery configuration. The long-range battery has enough power to take you 310 miles, but it’s much pricier than most people can afford. At launch, Tesla promised that there would be a $35,000 standard battery configuration “soon.” Many people are still waiting on this configuration to arrive before making the jump to Tesla’s unique electric brand.
The Model 3 mid-range battery was a surprise reveal that shook up the entire pricing structure of the vehicle. Additionally, Tesla now only offers the long-range battery with all-wheel drive. The mid-range battery only offers rear-wheel drive. Additionally, the AWD costs more now. That means that a long-range Model 3 now costs $54,000 at the lowest.
This surprise reveal has left many people asking about the base model. In response, Tesla issued the following statement.
“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.”
Model 3 Base Configuration
This is consistent with estimates that Tesla has given in the past about when the base Model 3 would be available. This news comes on the heels of production reports that show that Tesla is meeting its production goals for Model 3’s. Short-sellers have derided these production goals as unrealistic and impossible to maintain. Time will tell if Tesla can keep up the pace and meet the high consumer demand for affordable electric vehicles.