Tesla will start producing the much advertised entry-level $35,000 version of the Model 3 in the first quarter of 2019, said Elon Musk during the company’s monthly shareholder meeting.
As reported by Jalopnik, the cheaper Tesla Model 3 will employ a smaller battery pack with around 50kWh of capacity, which according to Musk will be ready by the end of this year.
A few weeks ago Tesla’s CEO said that the company must reach first a weekly production rate of 5,000 units and then wait an additional 3 to 6 months before they launch the base version of the Model 3. Tesla is currently producing around 3,500 Model 3s per week.
During the shareholder meeting Tesla said that the Model 3 became the best-selling mid-sized premium sedan in the US for the month of May, selling more examples than rivals like the Mercedes C-Class, the BMW 3-Series and the Audi A4.
Model 3 is now the best-selling mid-sized premium sedan in the USA pic.twitter.com/xI7LsgRI6D
— Tesla (@Tesla) June 5, 2018
It’s been three years since the $35k version of the Model 3 was first announced, leading to hundreds of thousands of prospective customers putting down a deposit and creating immense pressure on Tesla to deliver on its promises.
The Palo Alto-based EV maker recently revealed the more expensive dual-motor Model 3, which combines the base model’s 258hp rear-mounted electric motor with another one mounted on the front, without revealing a combined output figure. They only said that the extra motor allows the Model 3 to complete the 0-60mph in 4.5 seconds, a figure that drops to a supercar-baiting 3.5 seconds for the $78,000 Dual Motor Performance version.
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