Credit: Tesla

Tesla has been under the spotlight for some time now and after Elon Musk stepped down as chairman following a lawsuit just weeks ago, the company is looking to repair its image. Taking to Twitter over the weekend, Musk introduced the new lower-cost Model 3, making the car and its electric technology more accessible.

According to the post, the mid-range Model 3, “costs $35k after federal tax & state tax rebates in California, but true cost of ownership is closer to $31k after gas savings.” On further inspection of the company website, the new Model 3 starts at $45,000 USD, with the end price after the sale rounding down to $30,700 USD with the estimated savings.

“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,” Tesla revealed to CNBC in a statement. “Our new Mid-Range Battery is being introduced this week in the U.S. 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.”

It is also reported that the new mid-range battery has an estimated range of 260 miles (or roughly 418 kilometres) and has fewer cells than its predecessors.

For more information on the mid-range launch or to get your hands on one, visit the Tesla website here.

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