Tesla Launches $45k Mid-Range Model 3, Base $35k Variant Is Still 4-6 Months Away

Tesla has started selling a new variant of the Model 3 compact electric sedan, but it’s not the $35,000 variant that the world was promised two and a half years ago.

Instead, this new model, dubbed the Mid-Range version, sits between the entry-level (but still non-existent) Model 3 and the high-end Long-Range version.

Priced from $45,000, the new variant uses the same battery as the Long-Range Model 3 but has fewer cells. Consequently, its range is down from 310 mile (498 km) to 260 miles (418 km). The vehicle’s top speed has also been reduced from 145 mph (233 km/h) to 125 mph (201 km/h), while 0-60 mph (96 km/h) acceleration takes 5.6 seconds, 1.1 seconds more than the Long-Range.

Buyers of the Mid-Range Model 3 will only be able to opt for rear-wheel drive, as the dual-motor, all-wheel drive option is limited to the Long-Range and Performance variants.

In a statement, Tesla said that the Mid-Range model will cater to the needs of many Model 3 customers.

“As Model 3 production and sales continue to grow rapidly, we’ve achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers.

“Our new mid-range battery is being introduced this week in the US and Canada to better meet the varying range needs of the many customers eager to own Model 3, and our delivery estimate for customers who have ordered the Standard Battery is 4-6 months.”

What this means for the hundreds of thousands of people who pre-ordered the entry-level Model 3 is that they will have to wait until at least February before deliveries commence. By this time, Tesla vehicles will no longer be eligible for the full $7,500 federal tax credit as it will be reduced to $3,750 starting January 1st, 2019.

The credit will then drop to $1,875 on July 1st before being scrapped completely at the end of 2019. It’s likely that some Model 3 customers who pre-ordered the $35,000 Model 3 in early 2016 won’t benefit from any tax credit as a result.

Note: Tesla Model 3 Performance pictured.