EV giant Tesla Inc (NASDAQ:TSLA) has introduced a new variant of its Model 3 sedan in the U.S. with an estimated range of 363 miles.
What Happened: The new Long Range Rear-Wheel Drive variant starts at $42,490 and is eligible for a federal EV tax credit of $7,500, taking the effective price for eligible customers down to $34,990 or below the cheapest variant of the Model 3.
With the latest addition, Tesla's Model 3 lineup in the U.S. is as follows:
Model 3 Variants | Starting Price | Starting Price After Federal EV Tax Credit |
Rear-Wheel Drive | $38,990 | – |
Long Range Rear-Wheel Drive | $42,490 | $34,990 |
Long Range All-Wheel Drive | $47,490 | $39,990 |
Performance All-Wheel Drive | $54,990 | $47,490 |
A Long-Range All-Wheel Drive variant is also available on Tesla's mass-market Model Y SUV, starting at $44,990. However, on the Model Y, Tesla replaced the existing rear-wheel drive variant with the long-range AWD variant instead of adding a fourth variant to the lineup.
Why It Matters: Tesla's Model 3 lineup has undergone the most changes among Tesla's entire lineup since the start of this year. Tesla launched the refreshed Model 3 across the U.S. in January with slight differences in both the interior and exterior design of the vehicle.
Tesla initially offered only two variants of the updated Model 3: rear-wheel drive and long-range. The Performance variant was added later in April.
The Model 3 and Model Y account for a whopping majority of Tesla's overall deliveries. In the second quarter, Tesla delivered 422,405 Model 3 and Model Y, accounting for a whopping 95% of the company's overall global deliveries.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read More:
- Elon Musk, Investors And Grok Wary Of Tesla Stock Tumbling After Jim Cramer Says It Could Touch $1 Trillion Market Cap
Photo courtesy: Shutterstock