Elon Musk, the founder of Tesla has announced a new entry-level Model 3 sedan that will sell for $35,000. The Tesla Model 3 will have a top speed of 130 miles per hour with 220 miles of range. This announcement comes after Elon Musk changed his twitter to Elon Tusk in order to surprise his 24 million followers on the platform.
Tesla went on to say in a statement on Thursday that the standard Model 3 will come with a 0-60 mph acceleration of 5.6 seconds and is build to achieve the same perfect 5-star safety rating, just like the longer version of the car that has the lowest probability of injury of any car tested by the US government.
The company added that in addition, the company will be introducing the Model 3 Standard Range Plus that offers 240 miles of range and a top speed of 140 mph. It can do 0-60 mph acceleration of just 5.3 seconds and comes with the most premium interior features at $37,000 before incentives.
Musk, later on, went on to say that the Model 3 is "excruciatingly difficult" to make at the reduced price.
Tesla also went on to say that the company will be shifting sales worldwide to online only. The company said that by shifting the sales online combined with other ongoing cost efficiencies will allow the company to lower the vehicle prices by about 6 per cent on average that will allow users to achieve the $35,000 Model 3 price point, much earlier than expected.
Tesla over the next few months will be winding down many of its stores with few stores in the high-traffic location that will remain as galleries and Tesla information centres.
The announcement came after the US Securities and Exchange Commission (SEC) asked a US federal judge to hold Musk in contempt for violating a settlement deal reached in 2018.
This came in context to Musk's tweets on February 19 that said Tesla made 0 cars in 2011 but will be making only 500k in 2019.
Followed with this Musk hours later tweeted that the company would actually deliver 400,000 cars in 2019.
Although Musk went on to correct his mistake, the Tesla CEO was slammed by the US regulators because of once again publishing inaccurate information on Tesla to his 24 million Twitter followers.
(With IANS inputs)