Technology 3 min read

Why Tesla's Model 3 Price Slash is a Big Deal

With the release of an affordable electric vehicle in the form of the Tesla Standard Range Model 3, it could be the beginning of a great year for affordable electric cars.

2019 might just be the year of the affordable electric car. ¦ Image via Tesla

2019 might just be the year of the affordable electric car. ¦ Image via Tesla

After several delays, Tesla finally slashed the price of its standard Model 3 down to $35,000.

Tesla enthusiasts have been looking forward to the price slash since CEO, Elon Musk first teased this mass market price two years ago.

While the automaker’s past effort involved releasing cheaper versions of the Model 3, it never previously hit the promised amount.

On Thursday, Tesla sent an email to its retail stores with details of its standard range Model 3 that comes with a smaller battery. Oh, yes – It also comes with a price slash too.

Features of The New Tesla Models

Designed to be the most affordable Tesla vehicle on the market, the Standard Range Model 3 version comes with a standard interior and a 220-mile range battery. It also has 130 mph top speed and can move from 0 to 60 mph in 5.6 seconds.

The Standard Range Plus model comes with an upgrade to the “premium interior features”. Users will also enjoy a top speed of 140 mph and 0 to 60 mph in 5.3 seconds.

As expected, it all comes with a higher price tag of $37,000. Both Model 3 versions are expected to spot an all-glass roof.

With that said, both versions don’t include leather and power seat options. Furthermore, buyers are restricted to black color only. However, other colors will be available at an additional cost.

According to Tesla, deliveries will start in the United States within the next 2 to 4 weeks. On the other hand, China and the rest of Europe will have to wait for about three to six months, according to Musk.

From the beginning, this has been the goal,” the CEO said. “It’s an incredible car.”

Since the auto company is shifting its sales to online only, that’s the only way to order the Model 3s. In other words, you can’t walk into the company’s store to buy a Tesla car anymore.

While this reduces the Model 3’s price by 6 percent, it also means Tesla has to close down some of its stores. That means, a significant reduction in the company’s workforce.

There’s no other way for us to achieve the savings required to provide this car and be financially sustainable.Musk told The Verge.

I wish there were some other way, but unfortunately, it will entail a reduction in force on the retail side. There’s no way around it.

Read More: Tesla Rolls Out “Dog Mode” to Keep Canine Lovers Happy

Despite these cutbacks and caveats, this affordable and practical Tesla is a significant step in the transformation of the global auto market. Tesla has been leading the electric market for a number of years now, but the lack of an affordable model for customers has been an issue. Now, with the release of this Standard Range Model 3, it pushes Tesla’s competitors to rethink their own electric car ideals and motives.

With any luck, this will just be one of many affordable electric vehicles coming to the market in 2019.

Read More: Why the New Tesla Amazon Store is a Genius Marketing Move

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Sumbo Bello

Sumbo Bello is a creative writer who enjoys creating data-driven content for news sites. In his spare time, he plays basketball and listens to Coldplay.

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    Hugh Demson March 05 at 12:07 pm GMT

    If you think that $35,000 is an “affordable” car then I guess I need to ask my boss for a raise.

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