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Tesla lowers $ 4,000 of model 3 price with new medium voltage battery

Tesla Inc. began selling a cheaper version of its Model 3 since Thursday, but the price tag is still higher…

Tesla Inc. began selling a cheaper version of its Model 3 since Thursday, but the price tag is still higher than originally promised and federal tax incentives that could lower the price are set.

The new version features a new mid-range battery and a starting price of $ 45,000, the car manufacturer said late on Thursday – $ 4,000 less than the previous starting price of $ 49,000. For well over a year, Tesla

TSLA, -2.90%

has used a possible S model with a base price of $ 35,000 that will be affordable enough to appeal the masses, but one is still unavailable.

In August, UBS analysts said that Tesla would lose money on a model 3 with a base price of $ 35,000. Tesla’s website says the standard version, which is expected to have the base price, will start selling in four to six months.

In a twentieth Thursday Tesla CEO Elon Musk claimed the new model “Costs $ 35k for federal and state tax reliefs in California, but real cost of ownership is closer to $ 31k after gas savings.”

The tax deductions that apply to However, all of us in the United States terminate – as Tesla has made an important delivery threshold, the federal $ 7,500 electricity tax credit will be phased out as of 2019. For buyers delivering from January 1 to June 30, 2019, the credit will drop by half to $ 3,750 and halved again for the period from July 1 to December 31, 2019, will be eliminated altogether in 2020.

Tesla expects to start delivering Model 3 with the new mid-range batteries within six to 10 weeks, says the company.

“As model 3 production and sales continue to grow rapidly, we have achieved a steady volume of manufacturing capacity, so we can diversify our product range to even more customers,” says a Tesla spokesman in a statement. “Our new medium voltage battery introduced in the US and Canada to better meet the varied supply of the many customers who are keen to own model 3. “

The new version has a range of 260 miles,” said Tesla on his website, compared with the previous available Muscle allow on Twitter that long-range batteries, rear-wheel drive and full self driving features will be available for next week and will be “off menu” options.

The Tesla share has decreased by 15 , 2% so far this year as the S & P 500 index

SPX, -1.44%

has gained 3.6%.

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