At the company’s grand unveiling event for the Model 3, Musk announced that the new vehicle will have two distinct versions, a standard range and a long range version. The standard range will start at $35,000 and drive for up to 220 miles on a charge, while the long range will begin at $44,000 and get up to 310 miles, news that provoked a cheer from the audience. This is a stunning achievement, as the top-line Model S P100D only gets 315 miles on a single charge, for more than triple the price of the long range Model 3.
Additionally, the long range Model 3 will do 0-60 miles per hour in 5.1 seconds and have a top speed of 140 mph, a far cry from the Model S’s speed, but still pretty zippy for a sedan of that size. The standard model will do 0-60 in 5.6 seconds and have a 130 mph top speed. “It’s going to be a fast car,” Musk said, a callback to his famous line: “At Tesla, we don’t make slow cars,” from the vehicle’s first unveiling.
“I don’t think you’ll be able to find a better car, gasoline or electric, in that price range that is anywhere near as great,” Musk said.
Musk officially debuted the company’s first affordably-priced electric vehicle, the Model 3, at a massive unveiling event outside the company’s Fremont factory on Friday night. Tesla sees the Model 3 as the first step in the company’s transition from a luxury car brand to an all-encompassing clean energy company that produces mass market vehicles in conjunction with individual solar power solutions and utility-scale energy storage. But on Friday, it was all about the Model 3.