The EPA rates its range at 363 miles, and it takes 4.9 seconds to go from 0 to 60 miles per hour.
Tesla has introduced a Model 3 variant that will have a range of 363 miles and will cost less than $35,000 after taking into account subsidies from the federal government. Deliveries of the Model 3 Long Range Rear-Wheel-Drive are scheduled to take place between July and August of 2024. The Model 3 is already available on Tesla’s configurator.
With a top speed of 125 miles per hour and a time of 4.9 seconds to go from 0 to 60 miles per hour, it falls between in the middle of the base model and the Long Range AWD option. You are spending a lot of money for an additional 0.7 seconds of acceleration, but the all-wheel drive option costs $5,000 more than the standard model. To provide a point of reference, the Hyundai Ioniq 6 LR has a pricing and range that are relatively comparable, however it is not qualified for the federal electric vehicle tax credit.
With the tax credit taken into consideration, the Model 3 Long Range RWD has become Tesla’s most affordable electric vehicle (EV). This is due to the fact that the base Model 3 RWD model, which costs $38,990, is equipped with lithium-iron phosphate (LFP) batteries manufactured by CATL in China. As a result, it is not eligible for any federal subsidy.
The introduction of the new model coincides with a decrease in the cost of electric vehicle batteries. Bloomberg recently reported that the price of an LFP cell in China has decreased by more than 51 percent, reaching $53 per kWh during the course of the previous year. As a consequence of this, LFP battery packs are now available at $75 per kWh, which means that electric vehicles can be priced at the same level as or lower than combustion vehicles in China. Any efforts made by the West to match China’s production of batteries will simply result in an increase in overcapacity, which will likely keep costs low.
In the beginning of this year, Tesla in the United States introduced its updated Model 3. New inside materials, ventilated front seats, an option for an audio system with 17 speakers, and a new eight-inch back display are some of the new features that are included in the new version. The exterior has undergone some minor cosmetic changes.