You can now order a Tesla Model 3 at the long-promised price of $35,000.
On Thursday, Tesla announced the $35,000 version of the Model 3, which can offer a max range of 220 miles and a top speed of 130 mph. After tax credits and gasoline savings, the electric car will only cost US buyers $24,950, the automaker claims.
Interested customers can order the vehicle from Tesla's website starting today. The estimated delivery time is between two to four weeks. However, don't expect too many perks with the car's interior. It features only "basic audio" and regular cloth seats, unlike the mid-range model, which has a premium audio system, heated seats and a more powerful navigation system.
The company has also created a $37,000 version of the Model 3, which features a partially upgraded interior. In addition, the vehicle can achieve a higher max range at 240 miles, a top speed of 140 mph, and faster acceleration.
The big test will be whether Tesla can fulfill every customer order, given the automaker's past struggles with manufacturing delays. However, the company's CEO, Elon Musk, estimates Tesla will be able to produce 500,000 electric cars this year, or about 10,000 per week.
Musk has previously talked about offering a $35,000 model since 2016 as a way to offer an electric car to the masses. To achieve that promise, Musk has had to streamline the vehicle's manufacturing processes while also embarking on cost-cutting measures, including laying off staff.
To further reduce costs, the automaker said on Thursday it was moving all car sales online, and shutting down its physical stores, except those located in high-traffic locations. "Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6 percent on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post.
The change, however, will make it harder to test drive a Tesla. So in response, the company has changed its return policy. You can now return a company vehicle for a full refund within 7 days after it's delivered, and if the car has less than 1,000 miles on odometer. Before, the policy restricted refunds to within 3 days and 500 miles.
"Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free," the company said.