A long time ago, Elon Musk promised that a budget Tesla Model 3 would come out. That finally happened yesterday when Musk’s company revealed the new Tesla Model 3 and its price tag – $35,000. Let’s see, now, what is this electric car offering for that money and how can it change the future of Tesla, Inc.
Elon Musk kept his promise to launch an economical variant of the popular Tesla Model 3. Yesterday, Tesla, Inc. revealed the new budget Tesla 3 Model 3 with a price tag of $35,000. While Musk admitted that Q1 2019 has been rough for his company, and the electric car industry, in general, the billionaire hopes to sell more than 600,000 units of the newly released vehicle.
“Given that a lot is happening in Q1, we do not expect to be profitable in the first quarter,” said Elon Musk, admitting that Tesla, Inc. might not score the expected profits in Q1 2019.
What is the budget Tesla Model 3 electric car offering for $35,000?
As it is the budget variant of the famous Tesla Model 3, this electric car is not going to offer the same options of the original model. Accordingly, for $35,000, the budget Tesla Model 3 would cover 220 miles (roughly 354 kilometers) without requiring a new charge. Besides, the interior of this budget electric car is not as fancy as that of the higher-priced version.
But, the future of Tesla, Inc. is not as bright as expected. Practically, Elon Musk’s company made some compromises to release the budget Tesla Model 3, and now, Elon Musk and his group came up with some changes to keep the costs of production and shipping of the new electric car as low as possible.
Accordingly, those who want a brand-new budget Tesla Model 3 would have to order one online as that will be the only possibility to purchase the car. In consequence, to save some money, Elon Musk is also going to shut down some showrooms and fire some of his company’s employees. “There’s no other way for us to achieve the savings for this car,” said Musk.
Emmy Skylar started working for Debate Report in 2017. Emmy grew up in a small town in northern Manitoba. But moved to Ontario for university. Before joining Debate Report, Emmy briefly worked as a freelance journalist for CBC News. She covers politics and the economy.