Tesla Debuts Model 3 Electric Vehicle

By Paul Riegler on 1 April 2016
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IMG_6102 (1)Tesla Motors unveiled its new Model 3 electric vehicle Thursday night at its Los Angeles design studio.

The Model 3 will carry an MSRP starting at $35,000 and will be eligible for federal and state tax incentives for electric vehicles. The new EV is expected to have a range of a minimum of 200 miles (322 kilometers) when fully charged, double what competitors in its price class, such as the BMW i3 and the Nissan Leaf, can offer.

The company began to accept $1,000 deposits for orders on Thursday and the Model 3 is expected to be available in showrooms by the end of 2017. Existing Tesla owners will be given priority on the waitlist, the company said in a statement, and the first region to see the Model 3 will be the West Coast. The automaker said it would have to “continue to ramp production” before beginning deliveries in Europe and elsewhere.

The automaker said it will continue to offer its four-year-old Model S sedan as well as its new Model X SUV.

The launch comes at a time when fuel prices have been at historic lows and the incentive to drive alternative fuel vehicles such as EVs is far less now than when a gallon of gasoline cost over $4 at the pump.

(Photo: Accura Media Group)