Tesla CEO Elon Musk has unveiled a $35k electric car to compete with Toyota’s Prius hybrid and Ford’s F-150 pickup.
Tesla says the $3500 Model 3 is designed to be the ultimate all-electric SUV for the American public, and the $25k Model 3 Plus is meant to give American consumers the option of an EV in the future.
The $25 k will come with $1,500 insurance for collision damage, a $1k $1-year lease and a $500 Tesla Lifetime Insurance.
Here’s a look at how the Tesla Model 3 and $25 Model 3Plus will look when they go on sale later this year:The $35000 Model 3 will be a sport utility vehicle, but will also be able to tow, accelerate and brake, Musk said during a live demo.
At $35 k, it will be the fastest electric car available to the general public.
Tesla says it will sell for $50,000, though there’s a chance buyers will have to fork over even more.
The $30k Model 4, Musk told reporters at the unveiling, will be built on a new platform.
It will be more fuel-efficient and less expensive to build, Tesla said, than the Model 3.
Musk said it will also have a range of more than 300 miles, or about four times the range of the $30 k Model 3, but it won’t be able tow a ton of cargo.
Both the $5,000 Model S and $7,500 Model X will also go onsale later this month, Musk says.
Both models will be priced about the same as the $50k Model S.
Both the new Model 3 cars will be available on October 20.
Musk says he expects that more than 50% of Tesla’s Model 3 buyers will order a vehicle before October.