What will arrive in as little as six weeks, and be available in the USA and Canada, is called the Model 3 Mid Range.
The new version has a delivery period of six to 10 weeks, according to the website, which would customers eligible for the current $7,500 US tax credit if they take delivery by the end of the year.
The more affordable Tesla sports a 260-mile range, a 125 miles per hour top speed, and goes from 0 to 60 in 5.6 seconds.
Someone in Zimbabwe is fed up with queuing for fuel - they have bought an electric-powered Tesla Model X. Despite production issues that have slow deliveries, there are plenty of Model 3s already on the road although none were sold at that promised $35,000 price point.
On that page, customers can choose one of three versions of the Model 3 - the top-of-the-line performance version, the long-range battery one, and the new midrange battery variant.
Build combinations are reduced versus other versions of the Model 3 lineup.
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The cost includes a mandatory premium interior and audio package and the only functional option available is Tesla's Autopilot system, which is $5,000. There are five exterior colors and two wheel designs, and the new enhanced Autopilot is a $5,000 option.
"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".
Chief Executive Officer Elon Musk noted in a tweet that the mid-range Model 3 costs $35,000 after federal and state tax rebates in California, but the clock is ticking on buyers being able to get a big chunk of those savings. For more on the new-low cost vehicle from Elon Musk and Tesla, visit the company's website. It is not clear how numerous more than 400,000 reservations for the Model 3 are for the base models.
Despite its drawbacks, a Model 3 with a lower price tag could spell great news for Tesla as its first affordable vehicle has been viewed as an integral step in the firm's transition to become a leader in the broader auto market, as well as necessary to ward off heightened competitive pressures from both traditional car makers and niche EV startups.
If you have the cash available, clearly now is a great time to buy a Model 3.