The Affordable Tesla: Elon Musk Unveils Tesla's Cheapest Electric Car - Model 3

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Tesla has reshuffled its Model 3 lineup and is now offering the cheapest version yet, but it's still $10,000 more than the long-promised $35,000 entry-level vehicle.

But that price takes into account federal and state tax rebates.

Interestingly, the website lists the price of the Model 3 Mid Range Rear-Wheel Drive vehicle as both $47,500 (before savings) and $45,000.

However, Tesla is promoting the auto as costing as little as $30,700 by factoring in "gas savings" and all possible federal and local electric vehicle tax incentives (but not the destination charge).

According to the website, the rear-wheel-drive model has a "mid range" battery, a range of 260 miles, 50 miles less than the long-range battery that the more expensive Model 3 is equipped with. Announced by Elon Musk via Twitter, the new mid-range sedan is available for order now in black, midnight silver metallic, deep blue metallic, pearl white, and red - though anything but the black will cost you an added premium of $1,500 to $2,500.

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The only available Model 3 for the a year ago has been a long-range version, offered mostly at luxury prices.

As for the actual $35,000 Model 3, the auto will be referred to as the Model 3 Standard Range and should have 220 miles of range. As Electrek noted, rear-wheel drive is now exclusive to the mid-range battery pack and the long-range pack was reduced to one powertrain option: dual motor all-wheel drive.

The world still awaits the $35,000 sedan promised by Tesla founder Elon Musk back in March 2016. For example, NY offers a further $2,000 incentive, dropping the price down to $35,500.

Tesla says its Standard Battery model, which is pegged to be its entry model at $35,000 United States dollars (about $45,900 CAD) and widely promised as its most affordable, will be coming in 4-6 months. Musk promised that even a base vehicle would be very well equipped. And while that may not be a dealbreaker in itself, it's drifting farther away, once again, from the Model 3's original promise. That's about $4,000 less than the starting price of the sedan that went on sale past year, excluding incentives or options.

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