Tesla unveils Model 3 sedan for $35K to sell online only

Friday, 01 March 2019, 04:56 Hrs
36
cmt right
31
Comment Right
53
cmt right
10
cmt right
Printer Print Email Email
Tesla unveils Model 3 sedan for $35K to sell online only


Elon Musk-founded electric car maker Tesla has announced an entry-level Model 3 sedan for $35,000 that will have a top speed of 130 miles per hour with 220 miles of range.

The announcement came a day after Elon Musk changed his Twitter handle to Elon Tusk to the surprise of his 24 million followers on the platform.

The standard Model 3 with 0-60 mph acceleration of 5.6 seconds "is built to achieve the same perfect 5-star safety rating as the longer-ranged version, which has the lowest probability of injury of any car ever tested by the US government", Tesla said in a statement late Thursday.

"In addition, we are introducing the Model 3 Standard Range Plus, which offers 240 miles of range, a top speed of 140 mph, 0-60 mph acceleration of just 5.3 seconds and most premium interior features at $37,000 before incentives," the company added.

The Model 3 is "excruciatingly difficult" to make at the reduced price, Musk later told reporters on a conference call.

Tesla also said it is shifting sales worldwide to online only.

"Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6 per cent on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company announced.

Over the next few months, Tesla would be winding down many of its stores, with a small number of stores in high-traffic locations remaining as galleries, showcases and Tesla information centres.

The announcement came after the US Securities and Exchange Commission (SEC) asked a US federal judge to hold Musk in contempt for violating a settlement deal reached in 2018.

The development came in response to Musk's tweet on February 19 that "Tesla made 0 cars in 2011, but will make around 500k in 2019".

Hours later, the billionaire sent a follow-up tweet indicating that the company will actually deliver just 400,000 cars in 2019.

Although Musk corrected his mistake, the US regulators slammed the Tesla CEO because he "once again published inaccurate and material information about Tesla to his over 24 million Twitter followers".



Read More News:

IAF's 12 Mirage 2000 Jets Bomb Pakistan with 1000 KGs of Bombs



War memorial may replace Amar Jawan Jyoti as venue for paying tribute to fallen soldiers


Source: IANS
SPOTLIGHT
Finance
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Gadgets
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
Business
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..
Technology
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..
Entertainment
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
Career
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..
Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..