$35000 Tesla Model 3 is Available

The big Tesla announcement is that the $35,000 Tesla Model 3 is now available.

The standard Model 3, with 220 miles of range, a top speed of 130 mph and 0-60 mph acceleration of 5.6 seconds is now available at $35,000. It is built to achieve the same perfect 5-star safety rating as the longer-ranged version, which has the lowest probability of injury of any car ever tested by the U.S. Government.

Telsa is also introducing the Model 3 Standard Range Plus, which offers 240 miles of range, a top speed of 140 mph, 0-60 mph acceleration of just 5.3 seconds and most premium interior features at $37,000 before incentives. For 6% more money, you get 9% more range, more power, and an upgraded interior.

Tesla is shifting sales worldwide to online only in order to save 6% on the cost of vehicles. You can now buy a Tesla in North America via your phone in about 1 minute, and that capability will soon be extended worldwide. We are also making it much easier to try out and return a Tesla, so that a test drive prior to purchase isn’t needed. You can now return a car within 7 days or 1,000 miles for a full refund. Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free. With the highest consumer satisfaction score of any car on the road, Telsa is confident you will want to keep your Model 3.

They are making firmware (software) upgrades for both new and existing customers. These upgrades will increase the range of the Long Range Rear-Wheel Drive Model 3 to 325 miles, increase the top speed of Model 3 Performance to 162 mph, and add an average of approximately 5% peak power to all Model 3 vehicles.

Tesla is Getting $2 Billion in Loans for the China Gigafactory 3

Tesla is getting $2 billion in loans from Chinese lenders to build its massive battery and car plant in Shanghai, according to research from JL Warren Capital.

Elon Musk has said the biggest variable for getting to 500,000-plus a year is to have a factory in China to lower the cost of Tesla cars for chinese consumers.

SOURCES- Tesla, Twitter, CNBC

Written By Brian Wang